Home Highlights August 2011 Year 2011 This

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1. Restraint on shareholders of Zee Entertainment Enterprises Limited from calling for and holding an Extra Ordinary General Meeting - The procedure for appointment of...

2. Shareholder/director dispute impacting company operations and statutory compliance. Parties agreed on appointing independent director to resolve deadlock, facilitate...

3. Deduction of club membership fees paid to Cricket Club of India in the name of Director - Business was closed / wounded up as the company was converted to LLP - Since...

4. Dishonor of Cheque - vicarious liability of an independent director - In absence of any specific averments or allegations carving out a specific role attributable to...

5. Dishonor of Cheque - vicarious liability - rebuttal of presumption - non-Executive Independent Directors - What the High Court overlooked was, the contention of these...

6. Dishonor of Cheque - insufficiency of funds - vicarious liability - petitioners are Non-executive Independent Directors of the Company - The phrase "non-executive...

7. An independent director shall be held liable only in respect of such acts of omission or commission by a company which had occurred with his knowledge, consent or...

8. Levy of GST - Reverse Charge Mechanism (RCM) - whole-time director - A director who has taken an employment in the company may be functioning in dual capacities, namely,...

9. The petition challenged the criminal complaint filed against the petitioner u/s 138 read with Section 141 of the Negotiable Instruments Act for dishonor of cheque. The...

10. Liability of Independent Director who was retired before the date of offence - the petitioner as seen from the documents was an Additional Director on the date the board...

11. Jurisdiction - power to issue SCN - Deputy Director of DRI, is an officer, who is higher in rank than the Deputy Commissioner - Deputy Director or Assistant Director of...

12. Dishonour of Cheque - Vicarious liability - petitioner is an Independent Non-Executive Director - - the petitioner was appointed as Additional Director and resigned as...

13. Validity of prosecution against the petitioner/director - The responsibility of an Additional Director being the same as that of a director (but different from an...

14. Right of persons other than retiring directors to stand for directorship - the requirement of deposit of rupees one lakh with respect to nomination of directors shall...

15. Vicarious liability of Additional Director - Non-executive Independent Directors or not - Officer in default - non repayment of deposits by the Company to the depositors...