Summary: “The blog proposes targeted amendments in relation to the following: (i) outdated mechanism of rotational retirement under Section 152(6) of the Companies Act, 2013, and (ii) issue relating to the disqualification of the director for RPTs violations, specifically in line with the legal gap created by the decriminalisation of Section 188 of the Companies Act, 2013.”Continue Reading Reimagining Board Accountability: From Rotational Retirement to RPT Disqualifications
In today’s globalised economy, Indian companies are increasingly expanding their footprints across borders. Despite the global ambition, the regulatory framework often remains stubbornly local.Continue Reading Navigating Subsidiary Structures: Rethinking Section 186(7) and Layering Restrictions in a Global Context
The Securities and Exchange Board of India had notified the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 (“New SEBI ESOP Regulations”), on August 13, 2021. The New SEBI ESOP Regulations govern all share-based employee benefit schemes dealing in securities, including employee stock options, employee share purchase, stock appreciation rights, general employee benefits and retirement benefits (“Share Based Benefit Schemes”). The New SEBI ESOP Regulations also include regulations on sweat equity shares.Continue Reading Widened scope of ‘employee’ under the New SEBI ESOP Regulations