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Difference between Slump Sale and Asset Purchase

ByVivek Kumar Verma

Definition of Slump Sale As per S. 2(42C), of Finance Act, 1999, ‘slump sale’ means the transfer of one or more undertakings as a result of the sale for a lump sum consideration without values being assigned to the individual assets and liabilities in such sales. As per Sect 180 of Companies Act, 2013- “180. (1) The Board…

Time Limit for allotment of securities under the new Companies Act, 2013

ByVivek Kumar Verma

As per Section 23 of the new Companies Act, 2013, a public or private company may issue securities in any of the following manner: Public Company To public through issue of Prospectus Private Placement Rights Issue or a Bonus Issue Private Company Rights or Bonus Issue Private placement Private Placement vis-a-vis Preferential Allotment Section 42…

Miheer H. Mafatlal Vs. Mafatlal Industries Ltd.

ByVivek Kumar Verma

The scope of Company Court to sanction scheme of amalgamation is limited and therefore Court can intervene in matter only when it is not just and fair or prejudicial to the interest of share holders. Court can only go through scheme and examine whether it has complied requirements under Section 391 (2) and was passed requisite majority or not. Individual personal interest of minority share holders is of no concern unless it is affecting class interest of such equity shareholders.

Application of Principle of ‘Dissolution of Partnership’ to invoke Winding Up

Application of Principle of ‘Dissolution of Partnership’ to invoke Winding Up

ByVivek Kumar Verma

Application of principle of ‘dissolution of partnership’ to invoke winding up of Company under Section 433(f) of Companies Act, 1956 Deadlock in the management of the company is one of the grounds which may make it equitable and just for the court to wind up a company under Section 433(f). Section 433 provides for the…

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