Who can be appointed as Trustee? As per Section 10 of the Indian Trusts Act, any person who is capable of holding property can be appointed as a trustee. A person is deemed to have the capacity to hold property, if such a person is capable of administering the property effectively and efficiently with ordinary…
FDI IN REAL ESTATE BUSINESS & CONSTRUCTION DEVELOPMENT SECTOR FDI is not permitted in an entity which is engaged or proposes to engage in real estate business, construction of farm houses and trading in Transferable Development Rights (TDRs).[1] For this purpose of FDI investment in real estate business, the term “Real Estate Business” means dealing…
PRIVATE PLACEMENT MEMORANDUM (PPM) At the Offshore Fund level: PPM is the document that discloses all pertinent information to the investors regarding the company, proposed business operations of the company, structure of the transaction, the terms of the investment (share price, note amounts, maturity dates, etc.), potential risks for the investors, and details of the…
CITATION: (2004) 4 CompLJ 394 Bom DECIDED: May 6, 2004 BEFORE: Bombay High Court FACTS A company petition was filed by the petitioner IndusInd Bank Limited for sanction of Scheme of Arrangement between Ashok Leyland Finance Limited (‘transferor company’) and IndusInd Bank Limited (‘transferee company’) and their respective members and creditors. The Regional Director’s main objection was that…
Shri V.S. Krishnan & Ors vs M/S Westfort Hi-Tech Hospital (2008) FACTS: Appellants Shri V.S. Krishnan and five others filed Company Petition before CLB under Sections 397 and 398 read with Sections 402, 403 and Schedule XI. According to the petitioners, they were collectively holding in excess of 1/10th of the issued share capital of…
CASE LIST The fact that majority has approved the amalgamation scheme is not conclusive, however, it must be taken into account before in sanctioning the scheme. Sugarcane Growers and Sakthi Sugars Shareholders’ Association Vs. Sakthi Sugars Ltd., [1998] 93 CompCas 646 (Mad) J. S. Davar Vs. Shankar Vishnu Marathe, AIR 1967 Bom 456 While the court is not supposed…
