Shri P.P. Chaudhary, Hon’ble Union Minister of State for Law and Justice & Corporate Affairs, was conferred the Honorary Fellowship of Institute of Company secretaries of India (ICSI) at the headquarters of the institute at New Delhi.
ICSI president CS (Dr) Shyam Agrawal presented the certificate conferring honorary membership to Shri Chaudhary and administered an oath to him. Shri Chaudhary has conducted around 11,000 cases, mostly Constitutional Litigations for the last 38 years on matters related to land acquisition, farmer’s grievances, labour & service, central excise & customs and PILs related to restoration of natural water bodies and dams. The Honorary Fellow Membership is granted to distinguished persons having made significant contribution to the profession of Company Secretaries. In keeping with the best tradition of a professional Institution, the Institute confers the Honorary Fellow Membership in recognition of valuable services for promoting professionalism of management and best corporate governance practices. The ceremony was attended by the ICSI council members, secretary and heads of the directorates of the institute.
The Central Government notifies the Companies (Amendment) Act, 2017
The Central Government notified the Companies (Amendment) Act, 2017 (Amendment Act) on 3rd January, 2018. The provisions of this Amendment Act shall come into force on the date or dates as the Central Government may appoint by notification(s) in the Official Gazette. A few provisions in the Amendment Act have important bearing on the working of the Insolvency and Bankruptcy Code, 2016 (Code). Section 53 of the Companies Act, 2013 prohibited issuance of shares at a discount. The Amendment Act now allows companies to issue shares at a discount to its creditors when its debt is converted into shares in pursuance of any statutory resolution plan such as resolution plan under the Code or debt restructuring scheme.
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