Corporate Updates – 19-11-2015


The Official Liquidator attached to the Hon’ble High Court of Punjab and Haryana has moved 50 application Under Section 481 of the Companies Act, 1956 for dissolution of the Companies. The Hon’ble High Court vide order dated 02.11.2015 & 03.11.2015 has directed issuance of common notice inviting objection, if any, in respect of 50 Companies (in liqn). Notice is hereby to the creditors, contributories, stake holders and general public to file objection, if any, against the dissolution of the following Companies (in liqn) to the undersigned within 30 days from the date of publication of the present notice. In case, no objections are received, further proceedings will be initiated for dissolution of the companies (in liqn). Any objection raised after the expiry of time stipulated herein shall not be entertained and the aggrieved person may take recourse to Rule 285 of the Companies ( Court) Rules 1959 read with Section 559 of the Companies Act. 1956 as may be advised, in case company get dissolved.


SEBI with an objective to streamline and strengthen the framework of investor redressal and arbitration mechanism at commodity derivatives exchanges in line with the securities market has issued circular for Investor Grievance Redressal System and Arbitration Mechanism. The national commodity derivative exchanges shall set up investor service centers (ISC) for the benefit of the public/ investors and shall constitute IGRC in accordance with the SEBI guidelines. Further, the national commodity derivatives exchanges shall maintain panel of arbitrators, code of conduct for arbitrators, arbitration process, appellate arbitration, place of arbitration (nearest address provided by the client in the KYC form), implementation of arbitration award in favour of clients, records and disclosures as per the applicable provisions. The national commodity derivatives exchanges shall pool all arbitrators of their exchange in the common pool across all national commodity derivatives exchanges, facilitate automatic selection of arbitrators from the common pool. All the provisions of this circular shall be implemented by national commodity derivatives exchanges latest by April 1, 2016, unless otherwise approved by SEBI.

Speak Your Mind