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On 15 Nov, the Ministry of Corporate Affairs (MCA) has notified the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019 (Rules). The rules will provide a framework for insolvency and liquidation proceedings of Financial Service Providers (FSPs) other than banks. These rules will be applicable ..
The Andhra Pradesh government has launched a new online platform – SMARTPORT – as part of implementing the Ease of Doing Business Reforms related to trade and export promotion in all ports in the state. The new initiative will be covered under the Public Service Delivery Guarantee Act and tracked through a single-desk portal to ..
The government has constituted a committee under Injeti Srinivas, secretary of the Corporate Affairs Ministry to look at recategorization of certain offences under the Companies Act as civil offences as well as review other provisions of the Companies Act and the Limited Liability Partnerships Act 2008. Mandate of the Committee The committee will look into ..
The National Centre for Good Governance (NCGG) has recently signed a Memorandum of Understanding (MoU) with the Indian Institute of Corporate Affairs (IICA) to ensure better utilisation of infrastructure facilities during training programmes. The NCGG has been set up by the Government of India (GoI) under the aegis of DARPG (Department of Administrative Reforms and ..
The Uday Kotak Committee on Corporate Governance had given various recommendations on Independent Directors (ID). An ID is a director on a company’s Board other than a managing director, whole-time director or a nominee director. He / She is required to take an autonomous view of the going on in a company while overseeing its ..
Sankara Rao has been appointed as the new Managing Director & Chief Executive Officer (CEO) of the India Infrastructure Finance Company Limited (IIFCL). According to an order issued by the Department of Personnel and Training (DoPT), the Appointments Committee of the Cabinet (ACC) has approved his appointment to the post for a period of 3 ..
A DVR share is like an ordinary equity share, but it provides fewer voting rights to the shareholder. The objective of issuing DVR shares is for prevention of a hostile takeover and dilution of voting rights. It also helps strategic investors who do not want control, but are looking at a reasonably big investment in ..