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Arbitration, Share Capital, lifting corporate veil, competion act,2002

Presented by Click to edit Master subtitle style SAVITRI WALI CHENCHURATNAM RAJU NAIK

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Arbitration Act, 1940

Arbitration means the hearing and determination of a cause between parties in controversy, by a person or persons chosen by the parties. agreement" means an agreement by the parties to submit to arbitration all or certain disputes which have arisen or which may arise between them in respect of a defined legal relationship, whether contractual

Arbitration

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An An

arbitration agreement shall be in writing. arbitration agreement is in writing if it is contained in

adocument signed by the parties; of letters, telex, telegrams or other means of telecommunication which provide a record of the agreement; or of statements of claim and defense in which the existence of the

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How to Draft an Arbitration Agreement?


A

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good arbitration agreement is one which minimizes complications when a dispute arise. many a times people neglect to pay attention while drafting an arbitration agreement. finalizing an arbitration agreement, the terms should be thoroughly discussed and negotiated to avoid any misunderstanding at a later

However,

Before

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Before signing anArbitration Agreementthe following must be properly addressed:


Applicable Location Number

law to arbitration

of Arbitration of Arbitrators of Arbitration procedure to arbitration powers

Language Discovery Limitation Interim

measures/Provisional Remedies

Share Capital

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Share capital is the investment in a company by its members (owners). The amount is contributed in exchange for the share of ownership, a certificate being issued for each

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Transferring Shares

To

transfer shares for a company you will

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Meetings and Proceedings


The Meetings under the Act are classified as:
General

meetings
meeting general meeting

Statutory Annual Extra

ordinary general meeting

Class

meetings of creditors and debenture

Meetings

holders

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Lifting of corporate veil


The

corporate veil is lifted by the Court, when it ignores the company and concerns itself directly with the members or managers. is largely in the discretion of the courts and will depend upon the underlying social, economic and moral factors as they operate in and through the corporation.

It

The corporate veil is lifted in the following instances


To

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investigate the relation between the holding company and subsidiary company. investigate the number and names of members of the company. investigate the true ownership of shares and controlling power over the company. investigate lawful objects of the company.

To To

To

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To

investigate the character of a company where it is trading with an alien enemy or persons managing the affairs of the company are under the control of enemies or are residing in enemy country. investigate into the affairs where there exists a tendency to create monopoly. investigate the company affairs where it is used for tax evasion or to

To

To

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Winding-up proceedings
the

process by which the life of a company is ended and its property is administered for the benefit of its members and creditors. the process of winding up, the assets of the company are sold and all the debts of the company are paid off. per Section 425 ofthe Act, the modes of winding up are:
Winding

During

As

up by the court.

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WHO CAN APPLY TO COURT, FOR WINDING UP PETITION? (SEC 439) Following persons can apply to the court, for petition for winding up

The company itself The creditor Any Contributory Registrar Any person authorized by central govt, in case of oppression or mismanagement (397)

Consequences of court passing an order for winding up:

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If the court is satisfied, that sufficient reasons exist in the petition for winding up, then it will pass a winding up order. Once the

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STAY ORDER Where, the court has passed a winding up order, it may stay the proceedings of winding up , on an application filed by official liquidator, or creditor or any contributory. (466) DISSOLUTION OF COMPANY (481) Finally the court will order for dissolution of the company, when:

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Competition Act,2002
Competition

Act 2002 states that Indian traders must not do any activity for promoting monopoly. they will do any activity in the form of production, distribution, price fixation for increasing monopoly and this will be against this act and will be void. act is very helpful for increasing good competition in Indian economy.

If

This

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Under this act following are

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Establishment of Competition Commission Under this law Govt. of India appoints the chairman and other member of competition commission. Competition act 2002 gives the rules and regulation regarding establishment and functions of this commission. Qualification of chairperson of Competition commission:-

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Corporate Social Responsibility

Corporate social responsibilityis a form ofcorporateselfregulationintegrated into abusiness model. policy functions as a built-in, selfregulating mechanism whereby business monitors and ensures its active compliance with the spirit of the law, ethical standards, and internationalnorms.

CSR

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CSR-focused

businesses would proactively promote thepublic interestby encouraging community growth and development, and voluntarily eliminating practices that harm the public sphere, regardless of legality. is the deliberate inclusion ofpublic interestinto corporatedecision-making, that is the core business of the company or firm, and the honouring of atriple

CSR

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Thank You

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