The government has made 45-odd changes in the Companies Act of 2013, through circulars, notifications or orders, ever since the provisions of the new company law came into effect on April 1 this year. Last week, the Union Cabinet cleared another 14 changes in the Act, paving the way for tabling amendments in the ongoing session of Parliament.
“After understanding the significance of these two terms for our industry, we have decided to bring fresh guidelines,” said a senior government official who did not wish to be named. “We will try to bring those as soon as possible.” In the new Companies Act, the terms “arm’s length basis” or “arm’s length’s transaction” are introduced only in connection with “related-party transactions”.
Kerala Institute of Medical Sciences (KIMS), backed by Bengaluru-based private equity fund Ascent Capital and Orbimed, has acquired a majority stake in Al Shifa Hospital for an enterprise value of Rs 300 crore, making this amongst the largest health care acquisitions in Kerala.
Investor-friendly provisions in the new Companies Act and changes in the methodology to weigh investor protection drove India’s surprise jump in this year’s investor protection indicators in Doing Business 2015: Going Beyond Efficiency, a report published by World Bank in October.
A rebound in investor sentiment has pushed up M&A activity in India this year to USD 29 billion, up 22.58 per cent, says a Grant Thornton report.
The marriage between Kotak Mahindra Bank and ING Vysya Bank has opened up the potential for more consolidation, especially of smaller banks in the private segment, which at present constitute a miniscule percentage in the banking sector.
The Bombay High Court ruled in favour of Shell in a transfer-pricing order that sought to tax the energy giant’s 2009 investment in its Indian subsidiary. The order will have an impact on other multinationals fighting the tax department on similar grounds.
Online jewellery retailer Bluestone’s co-founder Gaurav Singh Kushwaha noticed a marked difference among potential employees when he interviewed a few aspirants recently.
The board of Securities and Exchange Board of India (Sebi) on Wednesday tightened the insider trading rules, eased delisting norms, cleared a new set of listing regulations and imposed restrictions on wilful defaulters, prohibiting them from accessing the capital market.
An inexperienced HR manager asks on a legal networking site: Is my IT company a factory? A factory — a manufacturing entity having the specified number of workforce — has to provide a crèche facility for its women employees. She was concerned, as space for a crèche could not be carved out in the high-end office complex where the company was based. Distributing cupcakes on Women’s Day won’t bridge the gender gap. Concrete practical measures alone will help.