Expert Legal Guidance, Strategic Business Success – Your Trusted Partner in Law & Compliance
The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Rakesh Kumar Jain (Judicial Member), Justice Mohd. Faiz Alam Khan (Judicial Member) and Mr. Naresh Salecha (Technical Member) has held that strong observations made against the suspended directors of the Corporate Debtor, while passing an order of dissolution due to their non-cooperation in…
Criminal Liability of Non-Executive Directors: A New Ray of Hope 2 Summary: This blog compares section 223 of the bharatiya nagaraik suraksha sanhita, 2023 (“Bnss”), with Section 200 of the erstwhile Criminal Procedure Code, 1973 (“CrPC”). The analysis highlights how the new provision introduces an additional safeguard against prosecution for non-executive directors. Indian corporate law…
The Supreme Court has set aside the orders of the Patna High Court and the Field General Manager reducing the pension of an employee under the Central Bank of India (Employees’) Pension Regulations, 1995. The Court noted that there was no prior consultation with the Board of Directors. The Appeal before the Apex Court was…
Independent Directors and ‘Material’ Pecuniary Relationships: Ambiguity to Clarity 4 SUMMARY OF THE BLOG This blog examines the concept of ‘material pecuniary relationship’ while assessing a director’s independence under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR Regulations”), and the Companies Act, 2013 (“Companies Act”). It highlights the regulatory differences in thresholds and…
SEBI’s Take on Independent Directors: On Paper or in Fact? 6 Summary: In this article, we analyse recent guidance and enforcement actions by SEBI, which provide valuable insights into the approach of the regulator in interpreting the statutory framework on independent directors while applying it in practice. Introduction Since the introduction of the construct of…
