Unlisted companies to see significant reduction in compliance burden from FY22

The compliance burden on unlisted Indian companies is set to get lighter as the government relaxed the rules governing such firms which are listed overseas or have listed debt securities. In an amendment to the Companies (Specification of definitions details) Rules on Friday, the ministry of corporate affairs (MCA) allowed certain classes of unlisted companies […]

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NCLAT suspends Delhi Gymkhana board, permits takeover by government-appointed administrator

An appellate tribunal has handed over the management of the Delhi Gymkhana Club to a government-nominated administrator by suspending the 107-year old club’s general committee (GC) over findings of mismanagement by the ministry of corporate affairs (MCA), on Monday. Granting interim relief to the MCA, the National Company Law Appellate Tribunal (NCLAT) also directed that […]

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