RULES OF LAW

Article 226: Power of High Courts to issue certain writs 1)     Notwithstanding anything in Article 32 every High Court shall have powers, throughout the territories in relation to which it exercise jurisdiction, to issue to any person or authority, including in appropriate cases, any Government, within those territories directions, orders or writs, including writs in the nature of habeas corpus, mandamus, prohibitions, quo warranto and certiorari, or any of them, for the enforcement of any of the rights conferred by Part III and for any other purpose. 2)    The power conferred by clause (1) to issue directions, orders or writs to any Government, authority or person may also be exercised by any High Court exercising jurisdiction in relation to the territories within which the cause of action, wholly or in part, arises for the exercise of such power, notwithstanding that the seat of such Government or authority or the residence of such person is not within th...

Insolvency and bankruptcy Code, 2016 is to ensure revival and continuation of the Corporate Debtor, where liquidation would be the last resort and scheme and structure of the code should be interpreted keeping in view the objectives of the code. Supreme Court of India in the matter of Jaypee Kensington Boulevard Apartments Welfare Association & ORS. VS NBCC (India) Ltd. & ors. observed the same. The code is a linear process that both creditors and debtors follow when insolvency is triggered; a collective mechanism for resolving insolvency within a framework of equity and fairness to all stakeholders to preserve economic value in the process; a time bound process either ends in keeping the firm as a going enterprise, or liquidates and distributes the assets to the various stakeholders. The Preamble of Insolvency and Bankruptcy Code. 2016 gives an insight into what is sought to be achieved by the Code. Preamble states the code as: “An Act to consolidate and amend the laws r...

BSE on 31.03.2021 issued circular no.  20210331-2 and stated that the exchange  has introduced facility of filing of Annual Secretarial Compliance Report in XBRL mode under Securities and Exchange Board of India (Listing  Obligations and Disclosure Requirements) Regulations, 2015 with immediate effect as per SEBI Circular CIR/CFD/CMD1/27/2019 dated February 08,2019. The disclosure to the Stock Exchange(s) shall be made by listed entities within 60 days of end of the Financial year. The listed companies are required to submit Annual Secretarial compliance report in PDF mode along with the submission of the Annual Secretarial compliance report in XBRL mode.