NCLAT upholds NCLT’s decision allowing government oversight of Delhi Gymkhana Club, ET LegalWorld
The National Company Law Appellate Tribunal (NCLAT) has upheld the National Company Law Tribunal’s (NCLT) April 1, 2022, decision allowing government intervention in the affairs of the Delhi Gymkhana Club. The order resulted in the removal of the Club’s erstwhile management, with a 15-member General Committee appointed by the Union of India now overseeing the […]
Sebi mulls allowing Associations of Persons to open demat accounts, ET LegalWorld
Markets regulator Sebi on Wednesday proposed allowing Associations of Persons (AOPs) to open demat accounts in their name to hold certain securities, excluding equity shares. The proposal if implemented would promote ease of doing business and encourage the shift from physical to electronic holdings of securities. In its consultation paper, Sebi has proposed amending its […]
Sebi mulls allowing only electronic mode for payment of dividend, interest, ET LegalWorld
Markets regulator Sebi on Friday proposed that listed entities should make all payments, such as dividends, interests and redemptions, through electronic mode only. The proposal is aimed at streamlining payment processes and enhance security, convenience and efficiency for all investors. Current Sebi’s LODR (Listing Obligations and Disclosure Requirements) rules allows electronic payments but permits cheques […]
Law firm fined for allowing COFA to steal £157,000
SRA: Solicitor placed a lot of trust in accounts manager A law firm whose compliance officer for finance and administration (COFA) stole £157,000 has been fined for not having proper systems governing payments from client account. Laurence Lee & Co, a recognised sole practice in Liverpool, accepted a fine of £1,822 in a regulatory settlement […]