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Theron in this country, including companies and is closely watching the IPL controversy and led Mr.Shari Tharoor to submit his resignation. There are many issues of concern in the entire episode and I want to shed light on the few issues as a classic example of the complexities in dealing with the issues of companies.
Any company that is in violation dealwith in the central government, the Council of the Companies Act, and the company if the court SEBI company is a listed company. We rarely see the central government Sue Moto start proceedings against the company, usually sins may be questioned at the Council before the Company Law Corporation Court, and when SEBI company is a listed company.
It is the case to highlight as everyone knows with tweeting done by Mr. Lalit Modi, saying that Mr. Shashi Tharoor had called him not to insist on students who are all shareholders in Kochi franchise. At first, the people behind the franchise Kochi made a public statement that they acted in accordance with the provisions of the Companies Act, 1956, and corporate systems. Then, little by little, and even the media and discuss the issue of violation of the provisions of the Companies Act 1956, in the granting of stock Shunanda race for Pushkar.
Facts such as:
1. Rendezvous Sports World Ltd is a private limited company, and that it had granted 70 billion rupees to the value of shareholders' equity Pushkar Shunanda claiming to have expertise and experience in the management of an event and brand management.
2. Sports World meet the soldier. Ltd. has changed its name Infact, the company has brought together other investors to form a consortium to bid on the IPL franchise Kochi.
3. He pointed out that it was by the media that sport Rendezvous violated all the provisions of the Companies Act 1956, in the granting of sweat equity to Pushkar and now Shunanda Shunanda Pushkar surrendered voluntarily share, claiming that it hurt deeply.
4. BCCI claims that there is a clause in the bidding document and that there is no information to be public disclosure and the claim as "a requirement of confidentiality."
5. Any shareholder in the company, other investors do not have any complaint against the administration in the company.
6. The central government decided to consider the issue in the public interest and because of allegations of widespread, and was told that while the Ministry of Finance will consider the question of sources of funds, the Ministry of the company will consider other issues, such as non-compliance with the regulations, companies, etc..
There are a lot of complications in this case, and that is such as:
How to deal with the issue of "professional experience"?
How to look in the affairs of other investors, while the sport is dealwith the dates by the authority?
The existence of political pressure, etc., and heavy weights involved in this issue? And a large number of technical issues?
Health requirement of confidentiality?
The authority of BCCI?
The power to adjudicate in the forum to question the Bank of Credit and Commerce and Research Affairs in BCCI?
The legal status of the IPL and its constitution? Etc.
This is a classic example of multiple companies in a dispute or matter. On the assumption that such an order comes before the Board of Directors or the law of the company, is really a complex issue to dealwith in. Many of the documents and will be scrutinized carefully, and the facts to be considered in light of corporate regulations, and the principles of natural justice are to be followed and will take some time and this is certainly not inevitable. This is why, companies dealing with conflict is quite different from dealing with other matters. Orders urgent you may need to be passed, and the principles of natural justice are to be followed, and the officer needs to be good help through lawyers who represent companies and finally, the President may spend a great deal of time reading newspapers and listening to the issue and remember the important things, with notes and finally pass the necessary resolutions .
Note: The intent is to focus on the complexities of dealing with conflict companies and nothing more.
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