Appointment of Independent Directors under the Companies Act, 2013 In terms of the recently enforced Companies Act, 2013 (“CA13”), read with the Companies (Appointment and Qualification of Directors) Rules, 2014, listed public companies and certain unlisted public companies are required to appoint independent directors in accordance with CA13 (please refer to our newsletter of May […]
The changing face of the BVI The BVI has long been recognised as the ‘go-to’ domicile for the incorporation of offshore companies. There is no question that this can be attributed in large part to the basic tenet of the jurisdiction being tax neutral, highly cost efficient and offering a good degree of privacy […]
A note outlining the general duties of directors set out in section 166 in chapter XI of the Companies Act 2013 (“2013 Act”). All references to sections are to sections of the 2013 Act. Section 166 in chapter XI came into force on 1 April 2014. This note covers duties owed by a director, in […]
The Master Franchise Show 2014 is back on June 14 and June 15, 2014. Hosted by Franchise India, the Master Franchise Conference will focus on important dynamics of operations, finance or managerial aspects relevant for any large franchisee for growing their business. The Conference will give extensive insight and actionable takeaways and breakthrough sessions aimed […]
The founding members of, and our team of professionals at LexCounsel are pround to announce that LexCounsel has completed ten years dedicated to excellence in professional legal services. As we celebrate that milestone, we remember the clients who have, and continue to repose trust and confidence in us. You have all been part of the […]
International Referral, the world’s largest exclusive network of advisory firms is delighted to introduce Luca Liistro of Chiomenti Studio Legale. Luca has joined IR as our exclusive Private Equity member in Italy. Luca Liistro joined the firm in 2001 and became a partner in 2013. He was foreign associate at Skadden, Arps, Slate, Meagher & Flom, LLP […]
Reorganization and consolidation, economic slump and business needs sometimes require companies to take the hard decision of retrenching or terminating its employees. But most companies treat the termination process of all employees alike with disruptive consequences subsequently. Indian laws classify employees in “workmen” and “non-workmen” categories. The classification of an employee as a workman or […]
Venture Intelligence APEX’14, scheduled for March 6, 2014 at Mumbai, brings together the Indian Private Equity/Venture Capital-Entrepreneur Ecosystem to introspect best practices on delivering returns without causing disruption to the underlying businesses over structured panel discussions and networking sessions. Post the inaugural session, an exclusive panel will discuss and brainstorm on the emerging trends & […]
The World Health Organization (“WHO”) defines Telemedicine as “The delivery of healthcare services, where distance is a critical factor, by all healthcare professionals using information and communication technologies,for the exchange of valid information for diagnosis, treatment and prevention of disease and injuries, research and evaluation, and for the continuing education of healthcare providers, all in […]
Liberalization of definition of Infrastructure Sector under ECB Policy The Reserve Bank of India (“RBI”) has, vide its A.P. (DIR Series) Circular No. 85 dated January 06, 2014, further liberalized the existing definition of ‘Infrastructure Sector’ under the extant external commercial borrowings policy (“ECB Policy”), to additionally include ‘Maintenance, Repairs and Overhaul’, which will be […]
Please follow the link below to read the article published in the Franchise World, December, 2013 Edition discussing the pros and cons of granting exclusivity rights for establishment of a franchise arrangement in India. Article LexCounsel
The recently enacted Companies Act, 2013 (yet to be notified) has imposed new requirements with regard to appointment of auditors and exercise of powers and compliances by the auditors. Some of the new requirements include: Tenure of appointment: 5 (five) years, subject to ratification at every annual general meeting. Existing auditors to continue tenure if […]