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Articles by Ashish Baid
Timelines For Fast-Track Mergers
The Ministry of Corporate Affairs ("MCA") vide its notification dated May 15, 2023, has notified amendments in the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 ("Principal Rules"), vide the Companies (Compromises, Arrangement and Amalgamations) Amendment Rules, 2023 ("Amendment Rules"). The Amendment Rules come into effect from June 15, 2023.
Timelines for fast-track mergers
The Ministry of Corporate Affairs (“MCA”) vide its notification dated May 15, 2023, has notified amendments in the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 (“Principal Rules”), vide the Companies (Compromises, Arrangement and Amalgamations) Amendment Rules, 2023 ("Amendment Rules"). The Amendment Rules come into effect from June 15, 2023.
Pre-Incorporation or Pre-Operative Expenses_- Treatment under the Foreign Exchange Management Act, 1999
It is once rightly said by Justin Mateen, “An idea is just an idea. When and how you execute that idea is what will define the outcome.” It is the promoter(s) of a company who conceive an idea, develop it, executes the plan for incorporation and setting up of the business. The incorporation of a company and commencement of business in India involves costs. These expenses are pre-incorporation/pre-operative expense which includes consultant costs or procuring any material for the business.
SEBI made separate posts of Chairman and managing director voluntary for listed entities
In May 2018, SEBI notified separation of the roles of Chairman and Managing Director, whereby it was made mandatory for the Chairman of top 500 listed companies to be Non-Executive Director and should not be related to either Managing Director or Chief Executive Officer (“CEO”) w.e.f. April 1, 2020. However, the said provision was later deferred by SEBI for two years, i.e., from April 1, 2022. But now SEBI has made this provision on a voluntary basis.
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