Companies Act
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Coronavirus Outbreak: Industry bodies seek extension of financial year till 30 June citing current economic situation
•CII also called for allowing companies to pass circular resolutions for restricted matters without the requirement of conducting a board meeting for approving such matters for a period up to June 30, 2020.
Implement 'Work from Home' policy to curb spread of virus infections, advises government to companies
•Companies have been strongly advised to put in place an immediate plan to implement the 'Work from Home' policy as a temporary measure till 31 March.
IndiGo promoter spat: Govt seeks reply from InterGlobe Aviation on allegations of governance lapses; more directors on board likely
Fp Staff •Meanwhile, another report claimed that the board of InterGlobe Aviation may consider a proposal to induct new directors at its board meeting scheduled to be held on Friday.
More companies in India complying with CSR norms under Companies Act; number of firms spending beyond 2% registers rise: Report
•The findings of the 'India CSR Reporting Survey 2019', compiled by KPMG in India, that covered 100 companies also revealed a 150% rise in the number of firms that have committed to carry forward 2% of the unspent amount.
Govt to reduce time taken for starting business; to introduce integrated electronic form from 15 February
•Currently, the ministry has the electronic form SPICe (Simplified Proforma for Incorporating Company Electronically) and that would be replaced with SPICe+.
Tata-Mistry saga: Registrar of Companies seeks modification in NCLAT order; to be listed for hearing on 2 January
•The NCLAT had also directed the Registrar of Companies to reverse Tata Sons' status from a 'private company' to a 'public company'
Narendra Modi says NDA govt saved country from disaster; confident of making India a $5-tn economy
Fp Staff •Narendra Modi said that the aim of the government is to both formalise and modernise the country's economy.
Minority stakes count: Cyrus Mistry's NCLAT win in Tata Sons tussle is a significant precedent in refining shareholder democracy in India
Narayanan Madhavan •The Tata-Mistry ruling should give a sobering message to promoter-driven companies that running a public company through a board involves procedures and practices that go beyond a simple majority-oriented approach
Over 14,000 prosecutions withdrawn under Companies Act, says centre; undertook various steps to improve ease of doing business
•India has improved its ranking on the World Bank's 'Doing Business 2020' report, moving up 14 positions to the 63rd spot.
Centre likely to consider proposal to reduce stake below 51% in CPSEs soon; Cabinet may decide on merger of state-run insurance firms
•The Budget for 2018-19 had proposed the merger of three public sector general insurance companies and subsequent listing of the merged entity on stock exchanges.