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15/02/2024

Challenges in Artificial intelligence – A Comparative analysis of policy implications in India, United States and Germany*

07/10/2022

07/10/2022
06/10/2022

Scouts Association Malaysia and Prem Rawat signed a landmark agreement to offer the Peace Education Program to youth throughout the country.

11/08/2020

Daughters become equal coparceners at birth even if born prior to 2005 amendment to Hindu Succession Act: Supreme Court
The landmark ruling says that even if the coparcener died before the 2005 amendment, the daughter would have equal rights to the property.

SEBI's Circular on Grievance Resolution between listed entities and proxy advisers released.Proxy advisors, over the pas...
04/08/2020

SEBI's Circular on Grievance Resolution between listed entities and proxy advisers released.
Proxy advisors, over the past few years, have played a key role in enabling shareholders to effectively participate in corporate governance decisions and thus, furthering the achievement of the above objectives. Proxy advisors provide advice to institutional investors / shareholders of a listed entity, in relation to exercise of their rights in the company including voting recommendation on agenda items. However, due to the inherent nature of the work, it is probable that proxy advisors and listed entities may have different views on any agenda item of the listed entity leading to grievances.

In order to facilitate resolution of such grievances of listed entities against SEBI registered proxy advisors, the listed entities may approach SEBI. SEBI will examine the matter for non-compliance by proxy advisors with the provisions of the Code of Conduct under regulation 24(2) read with regulation 23(1) of the SEBI (Research Analyst) Regulations, 2014 and the procedural guidelines for proxy advisors issued vide SEBI circular no. SEBI/HO/IMD/DF1/CIR/P/2020/147 dated August 03, 2020. This Circular is available at www.sebi.gov.in under the link “Legal Circulars”. Corporate Law Update.

23/07/2020

The High Court of Kerala on June 5, 2020 in the case of T.A. Varghese vs. Ram Bahadur Thakur Limited, has considered the question of whether non-executive directors, who are not in charge of day-to-day of the establishment, could be prosecuted for contravention of the provision of the Employees Provident Fund and Miscellaneous Provisions Act, 1952 ('EPF Act').

The High Court observed that Section 14A (i) of the EPF Act (‘Offences by companies’), makes it is clear that, only the person responsible to the company for the conduct of the business of the company, as well as the company alone, are liable to be prosecuted and not all directors. In other words, the appellants who are directors, cannot be prosecuted, unless there are pleadings and evidence to show that, they were in charge and responsible for the conduct of the business of the company. The court relied upon the decision of Supreme Court in SMS Pharmaceuticals Ltd. v. Neeta Bhalla, 2005(4) KLT 209, in support of the proposition. In the specific factual context, the court upheld the decision to acquit the directors by noting that Form 5A submitted by the company indicated that the manager was responsible for the conduct of the business and not the directors. Another factor, that may have influenced the court’s decision was lack of any reasonable opportunity being given to the accused to represent their case.

21/07/2020

Challenge made to approval allegedly given for
coal mining project in Saleki Reserve Forest, which is a part of Dehing Patkai Elephant Reserve. A PIL has been taken up suo moto by the Hon'ble Gauhati High Court. It has been pleaded that Dehing Patkai Elephant Reserve of which Saleki is a part, is the largest rainforest in India and stretches for 575 square kilometers across Tinsukia,
Dibrugarh and Sivasagar districts of Upper Assam.

The virgin forestland is also referred to as the ‘Amazon of the East’. Biodiversity of the forestland is rich and unique. Dehing Patkai region is already threatened by high polluting industries such as coal mine, oil refineries, gas drilling which adversely affect the biodiversity of the region. There are varieties of animals and birds living in the area. Large numbers of reptiles that are rare have their abode in the
area.

It was alleged that environmental disaster would be caused if approval is given by the Ministry of Environment, Forest and Climate Change to allow coal mining project in this area without proper scientific study, discussions, and taking into consideration various aspects of protecting the environment. PIL (Suo Moto) No. 3/2020 along with Let PIL 29/2020, PIL 30/2020 and PIL 36/2020 is now to be listed on 01.09.2020 for the reply to be submitted by the governmental authorities both Union and State of Assam.

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