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Convening of Annual General Meeting during COVID- 19 Crisis

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BACKGROUND In view of the COVID-19 outbreak, the Ministry of Corporate Affairs (‘MCA’) had come up with the circular dated April 08, 2020 ,  providing certain relaxations from the provisions of Companies Act, 2013 and rules made thereunder including conducting the extra-ordinary general meeting for transecting the business of urgent nature through video conferencing (‘VC’) and other audio visual means (‘OAVM’) till June 30, 2020. Further, in order to provide more clarity on the modalities to be followed by the companies for conducting EGM viz. manner of issuance of notice, voting by show of hands and postal ballot etc., another circular dated April 13, 2020  (Collectively referred to as ‘EGM Circulars’) was brought in force. In continuation to the aforesaid circulars and in view of the social distancing norms and other restrictions thereof, MCA provided an extension of 3 months for holding annual general meeting (‘AGM’) for the companies having the calendar year as the financi...
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Consumer Protection Act, 2019- Key Highlights

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The Digital Age has directed in a new era of commerce and digital branding, as well as a new set of customer expectations. Digitization  has provided easy access, a large variety of choice, convenient payment mechanisms, improved services and shopping as per convenience. However, along the growth path it also brought in challenges related to consumer protection. Keeping this in mind and to address the new set of challenges faced by consumers in the digital age, the Indian Parliament, on 6 August 2019, passed the landmark Consumer Protection Bill, 2019 which aims to provide the timely and effective administration and settlement of consumer disputes. The Consumer Protection Act, 2019 (New Act) received the assent of the President of India and was published in the official gazette on 9 August 2019. The  New  Consumer Protection Act, 2019  came into force on 20th July 2020 and it will empower consumers and help them in protecting their rights through its...
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MAJOR HIGHLIGHTS OF THE COMPANIES (AMENDMENT) ACT, 2020

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The Companies (Amendment) Bill, 2020 was introduced in Lok Sabha by the Minister for Corporate Affairs, Ms. Nirmala Sitharaman, on March 17, 2020. The Bill seeks to amend the Companies Act, 2013.  It was passed by Lok Sabha on 19th September 2020 and passed further by Rajya Sabha on 22nd September 2020 and received the assent from President on 28th September, 2020 . The CAB, 2020 has been based on the Company Law Committee (“CLC/Committee”) which was set up under the Chairmanship of Shri Injeti Srinivas in September, 2019. The CLC was constituted with a view to decriminalize offences and  provide  ease  of  doing  business to  the  corporates  and other stakeholders. The Committee presented its Report 2 in November, 2019 which provided for de-clogging 46 penal provisions in the following manner: •Re-categorising   of   23   offences   out   of   66 ...
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