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Globalization has many meanings depending on the context. In context to India, this implies opening up the economy to foreign direct investment by providing facilities to foreign companies to invest in different fields of economic activity in India, removing constraints and obstacles to the entry of MNCs in India, allowing Indian companies to enter into foreign collaborations and also encouraging
The word disgorgement means “to bring up and expel from the throat or stomach”, “to surrender (stolen goods or money or any other things) unwillingly”. In the financial markets, the word ‘disgorgement’ is used to mean the repayment of ill-gotten gains that is imposed on the wrong-doers by the courts or the regulators. Funds that were received through illegal or unethical business transactions, su
One of the first multinationals (MNCs) to offer buy back option was Royal Philips Electronics of Netherlands (Philips), the Dutch parent of Philips India Limited in the year 2000. The open offer was made at Rs.105, a premium of 46% over the then prevailing stock market price. Cadbury India, Otis Elevators, Carrier Aircon etc. soon followed suit. Fund managers which held these companies' stocks fe
The definition of Director given in this clause is an inclusive definition. It includes any person who occupies the position of a director is known as Director whether or not designated as Director. It is not the name by which a person is called but the position he occupies and the functions and duties which he discharges that determine whether in fact he is a Director or not. So long as a person
Section 205 of the Act regulates the declaration and distribution of dividend. All the companies which have share capital other than section 25 companies and make profit are bound by law to declare and distribute dividends. As per Section 205 of the Companies Act, 1956, a dividend (including interim dividend) can be paid out of current profits or profits accumulated of earlier years. However, dep
The trend began haltingly a few years ago. In 2000, Tata Tea took over a global company twice its size, Tetley Tea, the second biggest tea company in the world. This was followed by Essel Packaging, owned by Subhash Chandra, took over Propack of Switzerland to form Essel Propack. The merger created the biggest producer in the world of laminated tubes, and an Indian MNC became global number one. B
The shares or debentures or other interest of any member in a Company shall be movable property, transferable in a manner provided by the articles of the Company. Even the Sale of Goods Act includes Shares in the term movable property. Thus, shares are movable property and can be sold, pledged, assigned and mortgaged...
India has developed very comprehensive and open policy towards Foreign Direct Investment (‘FDI’). Since the inception of economic reforms in early 1990s, substantive reforms have been initiated in the field of investment, trade, financial sector, exchange control simplification of procedure, enactment of competition and intellectual property rights, etc,. Present India provides a liberal, attract
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