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KHETAN INDUSTRIES PRIVATE LIMITED VS. MANJU RAVINDRA PRASAD KHETAN. In this case it was held by the court that the shareholders have a right to remove the directors under section 284 by passing ordinary resolution and section 284 provides an inbuilt mechanism for the enforcement of the right and civil court has no jurisdiction to
Learn MorePower to remove directors has always been bestowed on shareholders, as we all know that at the end of the day, directors are answerable to shareholders. Nothing has changed in the procedural aspect under Companies Act, 2013 as well. Shareholders can remove any director before the expiry of his tenure, except any director appointed by
Learn MoreASSESSMENT / REASSESSMENT / APPEALS / SEARCH The Gujarat High Court in Raaj Ratna Metal Industries Ltd vs. ACIT has held that if AO contests the audit objection but still reopens u/s 147 to comply with the audit objection, it means he has not applied his mind independently and the reopening is void The Kolkata ITAT
Learn MoreNEW DELHI, DEC 21, 2014: CAG’s Performance Audit Report No. 32 of 2014 on ‘Appreciation of Third Party (Chartered Accountant) Reporting in Assessment Proceedings’ was presented in the Parliament on Frioday. The CAG carried out a Performance Audit on ‘Appreciation of Third Party (Chartered Accountant) Reporting in Assessment Proceedings’ during January to May 2014 covering all cases of
Learn MoreBS REPORTER New Delhi, 17 December The Lok Sabha on Wednesday cleared the Companies (Amendment) Bill, which seeks to ease related- party transaction norms and ensure severe punishment for those raising illegal deposits from the public. The amendments also propose restricting hearings by special courts to serious offences. The Bill, containing 14 amendments, was passed by voice vote.
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