LAW DECODED

Introduction There is a detailed procedure laid down, for filing a civil case. If the procedure is not followed, then the registry has a right to dismiss the suit. 1.  Filing Of Suit/Plaint 2. How proceedings are conducted 3. Written statement 4. Replication by Plaintiff 5. Filing of other documents 6. Framing of issues 7. Final Hearing 8. Appeal, reference, review. Filing of Suit/Plaint 1.  In layman's language plaint is the written complaint/allegation. 2. O ne who files it is known as "Plaintiff" and against whom it is filed is known as "Defendant" 3.  The plaint has to be filed within the time limit prescribed in the Limitation Act and should be typed copy, in double line space. 4. Name of the Court, Nature of Complaint, Names and Addresses of parties to suit has to be clearly mentioned. 5.  Plaint should also contain verification from plaintiff, stating that, contents of the plaint are true and correct. How

A person/party filing a case, May also represent their own case personally in any court.

If there is an audit committee, then first the audit committee shall consider the appointment of the auditor and recommend the same to the Board.

Slump sale means the transfer of one or more business undertakings as a result of sale for consideration without assigning values to individual assets and liabilities.

MEANING: Private placement of securities is one of the modes to raise funds. The term 'private placement' means any offer of securities or invitation to subscribe (purchase) securities to a selected group of persons by a company. The offer or invitation to subscribe securities on a private placement basis can not be made to more than 200 persons (excluding QIB and employees) in a  financial year . It was decided in  Sahara India Real Estate Corpn. V .SEBI [2012]  that if an unlisted company made an offer of shares or debentures to more than the threshold limit of 200, it is mandatory for the company to follow 'public offer' norms and SEBI has proper jurisdiction over such issue. PRE-ISSUE COMPLIANCE : If it is an unlisted company, then make sure the entire holding of securities of its promoters, directors, KMP has been dematerialized. [ September 10, 2018 MCA Notification] Make sure proposed issue must be as per Article of Association ( AOA ) Authorized Capital

COMPETITION LAW REVIEW COMMITTEE, 2020: LINK EVIDENCE ACT: LINK

The main business of ARC is securitization or reconstruction of financial assets ( FA ) i.e. loan standing in Bank or Financial Institution ( FI ) Books as Non-Performing Asset ( NPA ). On operational level, there is no difference between securitization or reconstruction.  Securitization of FA involves an originator, whose FA such as loans and receivables will be converted into security receipts ( SR ), and a trust/SPV, credit rating agency, original borrower and investor of SR.  SECURITIZATION PROCESS The originator lifts NPA accounts from its balance sheet and sells [ as a true sell wherein both the legal and the beneficial interest are transferred to ARC in such NPA accounts ] it to ARC by way of assignment of debt ( AoD ) which in turn opens SPV (in the form of Trust) and passes such NPA accounts into such SPV. Such SPV converts them into SR and issued to the investors (Qualified Buyer). ARC must be one of such investors in that transaction and always remain invested upto