Home Highlights July 2011 Year 2011 This

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1. Remuneration payable by companies having no profits or inadequate profits – No approval required from CG for a subsidiary of a listed company in certain cases

2. “Vanishing companies” can only be listed companies; so far 161 “vanishing companies” have been traced

3. MAT - reduction of income from book profit - assessee has not demonstrated that as per Schedule-VI of Companies Act, the impugned income is beyond the scope of profit of...

4. Validity of reopening of assessment - if only the AO who applied for approval under Section 151 of the Act had only read the approval form, he would have made the...

5. Deduction u/s 10B - ordinarily, what profit the assessee might have expected to arise - AO had not brought on record any material to demonstrate that the assessee...

6. Adjustment in book profit u/s 115JB - assessee make adjustment in sale and reduced the profit - Provisions relating to adjustments by way of increase and decrease to the...

7. Receiving foreign exchange in lieu of issuance of equity shares/share warrants - whether no approval has been granted by FIPB? - When FIPB, the authority, who is vested...

8. Dishonor of Cheque - insufficiency of funds - existence of company after merger - When under a judicial order, merger of the Companies has taken place, the earlier...

9. Approval u/s 80G(5)(vi) - the company has been formed to carry out the corporate social responsibility of the other company - there is no averment or allegation that the...

10. SEBI introduced a special call auction mechanism for price discovery of listed Investment Companies (ICs) and Investment Holding Companies (IHCs) due to infrequent...

11. Companies (Listing of equity shares in permissible jurisdictions) Rules, 2024 - Amendment in various rules.

12. Monitoring of foreign investment limits in listed Indian companies

13. Stock Transfer - merger and amalgamation done under Section 391 and 394 of the Indian Companies Act - In the present case the predecessor Company/transferor Company have...

14. Matters to be stated in prospectus - omission of the long list of details required - lined with information and reports required under SEBI - Section 26(1) of the...

15. Facilitating certain strategic disinvestment - Definition of "strategic Investment" has been amended to include sale of sharholding by CG/SG/PSU in a Public company or a...