A single-judge bench of Delhi High Court disposed of the two connected Petitions , in which the petitioners have been summoned to face trial in two complaint cases filed under Section 211(7) of the Companies Act, 1956.
Allahabad High Court while hearing a petition filed by Katiyar Cold Storage Private Limited asked the Secretary of the Union Finance Ministry about action taken against the officers of the Income Tax Department for issuing illegal and arbitrary notices under section 148 of the Income Tax Act, 1961
Supreme Court bench issued notice and granted leave of the Petitioner Sujay U. Desai, Director and CEO of M/s F.I.L. Public Limited Company, who allegedly used to run a fraudulent Merchanting Trade (MT) business
Supreme Court division bench was pleased to issue notice in the petition filed by the National Company Law Tribunal Bar Association (NCLTBA) through its Secretary, Advocate Saurabh Kalia and has been filed through AOR Supriya Juneja.
The Central government in its petition further said that pursuant to several complaints received by it, the affairs of M/s Delhi Gymkhana Club Ltd were inspected by it under Section 206(5) of the Companies Act.
SEBI’s suggestions were provoked by worries about the efficiency of the directors and the need to strengthen their autonomy and effectiveness to safeguard minority investors. But more needs to be done.
Nobel laureate Abhijit Banerjee’s suggestion that foreign investment be allowed in the beleaguered banking sector is just the help it needs. It will boost the economy and lead to efficient use of resources.