Note on FDI allowed in LLP
The Cabinet Committee of Economic Affairs (CCEA) has today approved Foreign Direct Investment (FDI) in Limited Liability Partnership (LLP) firms. The FDI in LLP has been permitted subject to the following conditions:
-FDI upto 100% will be permitted with the prior approval of Foreign Investment Promotion Board (FIPB) for the sectors falling under 100% automatic route.
-Foreign [...]
Compliance under SEBI Insider Trading Regulations
The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations states that an insider shall not-
on his behalf or on behalf of any other person deal in securities or
communicate such information to any other person, who while in possession of such information shall not deal in securities.
“Insider means any person who, is or [...]
Resignation of a Director
The Companies Act does not have any provision governing the resignation of a Director. Section 284 of the Act provides for removal of a Director in a General Meeting, whereas Section 283 deals with vacation of office in certain specific circumstances. Nothing has been mentioned in the statute with reference to resignation of a [...]
Disqualification of Directors u/s 274(1)(g)
The provision of Section 274(1) (g) was inserted by the Companies (Amendment) Act, 2000 w.e.f. 13-12-2000. The provision states as follows:
Provision:
A person shall not be capable of being appointed director of a company, if such person is already a director of a public company which-
(A) Has not filed the annual accounts and¹ annual accounts for [...]


