LEXSTREET ADVISORS LLP
KOTAK COMMITTEE RECOMMENDATION AS APPROVED BY SEBI AND ITS EFFECT ON NDIAN CORPORATE SECTOR...
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Effect of Kotak committee recommendations as accepted by SEBI in its Board Meeting today.. 1.  Maximum no.of directorship in listed companies has been reduced       from 10 to 8 by April 1, 2019 & reduced to 7 by April 1, 2020. 2.  Eligibility criteria for independent directors has been expanded. 3.  Role of the…
LEXSTREET ADVISORS LLP
FUGITIVE OFFENDERS BILL, 2018
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Fugitive Economic Offenders Bill, 2018. On 01.03.2018,  the Union Cabinet approved the Fugitive Economic Offenders Bill, 2018 in the parliament. As per Section 4(1)(e) of the Bill, "Fugitive Economic Offender" means any individual against whom arrest warrant in relation to a scheduled offence has been issued by any court in India, who (i) leaves…
LEXSTREET ADVISORS LLP
SECURITIES LAW UPDATE
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Securities Law update :  SEBI is  coming out with regulations on Corporate bonds soon to encourage companies to tap this route, says SEBI Chairman, Mr. Ajay Tyagi. He further said that the government's proposal to mandate listed companies to raise 25 per cent funds from corporate bonds was a good step and that detailed rules would be issued…
LEXSTREET ADVISORS LLP
INSOLVENCY MATTER -LATEST  CIRCULAR OF IBBI
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Insolvency & Bankruptcy Board of India, vide its circular no. IP/004/2018 dated 16.01.2018, clarified that Insolvency Professional shall render services for a fee which is reasonable reflection of his work, raise bills & invoices in his own name towards such fees and such fees shall be paid to his bank account. Any payment of fees for the services…
LEXSTREET ADVISORS LLP
LIABILITIES OF INDEPENDENT DIRECTOR UNDER SECTION 138 OF NEGOTIABLE INSTRUMENT ACT, 1882.
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Liabilities of Independent Directors and Non-Executive Directors under Section 138 of the Negotiable Instruments Act, 1881.            We would like to start by examining the provisions of the Negotiable Instruments Act, 1881 (hereinafter referred to as "the act"). Per the maxim "generalia specialibus…
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