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Showing posts from May, 2017

National Housing Bank- Housing Finance Company

National Housing Bank - Housing Finance Company   SHORT SUMMARY: In this Flash editorial, the author begins by referring the provisiosn of National Housing Bank, Housing Finance Companies. Author tries to discuss the conditions for registration of Housing Finance Company with NHB. It is worth noting that amidst the gradual development of demand in the housing finance sector, the corporate houses have made a significant move in order to grab the win-win situation. This is article no. 225 of the series of editorials written by the author on corporate laws  {Including Companies Act, 2013, SEBI, RBI Regulations, IBC, LLP Act, 2008 etc.}. INTRODUCTION: One of the Primary needs of any human being is ‘House’. A house is where new dreams are born and are nurtured, thus making it one of the most basic needs for survival. The Hon’ble Prime Minister of India, while presenting the Union Budget for 1987-88 on 28 February 1987 announced the de

Whether Non Ratification of Statutory Auditor is Removal of Statutory Auditor

Whether Non Ratification of Statutory Auditor is Removal of Statutory Auditor Short Summary: In this Flash editorial, the author begins by referring the provisions of Section 139 & 140 of Companies Act, 2013 relating to ratification of Auditor in every Annual General Meeting & Removal of auditor. The main thrust of the article, however, is upon the “ indirectly removal of Auditor through Non [1] Ratification of Auditor” and most recent case laws decided by the Hyderabad Bench of National Company Law Tribunal in the case of [2] SPC & Associates, Chartered Accountants and DVAK & Co. . Questions arise whether principally it is natural justice to remove the statutory auditor during his term by non-ratification in Annual General Meeting. This is article no. 221 of the series of editorials written by the author on corporate laws {including Companies Act, 2013, SEBI, RBI Regulations, IBC, LLP Act, 2008 etc.}. Introduction: Hence, three year has passed w