Articles by Durga Rao

Indian Legal System - Problems may not end soon?

Posted by Durga Rao 12 July 2012 23617 Views

A good legal system represents good governance in the Country. We may say that India is a vibrant democracy and we may further proudly say that Indian society reflects Unity in Diversity. There are critics of democracy and they show

Company Law Board & SARFAESI proceedings?

Posted by Durga Rao 11 June 2012 13589 Views

Company Law Board exercises very important functions under section 397/398 of the Companies Act, 1956 providing relief to the shareholders against oppression and mis-management in the Company. When a group of shareholders are oppress

'Tenancy Rights' and action under SARFAESI Act, 2002?

Posted by Durga Rao 02 May 2012 26089 Views

Banks used to take advantage of the provisions of SARFAESI Act, 2002 earlier in taking possession of the secured asset even when the tenant was in possession of the property. Absolutely, there is no difficulty in taking the possessio

Critical issues under SARFAESI Act, 2002?

Posted by Durga Rao 23 April 2012 42590 Views

It is always welcome to enable the Banks to recover their dues using the provisions of SARFAESI Act, 2002. It is known that it is very difficult for the Banks to approach Civil Court asking for a decree and getting that decree executed. With the i

Investigative Audit by CLB under section 397/398?

Posted by Durga Rao 17 April 2012 11063 Views

Shareholders qualifying under section 399 of Companies Act, 1956 can approach the Company Law Board under section 397/398 seeking preventive and remedial measures against the oppression and mis-management in the Company. Though, section 397/398 i

Getting relief from DRT under SARFAESI Act, 2002

Posted by Durga Rao 06 April 2012 20971 Views

It would be clueless for the professionals at times in answering the queries of the borrowers facing proceedings under The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. If the

My understanding of BUDGET - 2012

Posted by Durga Rao 19 March 2012 7436 Views

I am not an economist, and I am not even an eminent Chartered Accountant, however, from the views of various experts on the subject, I would like to express my understanding on Budget 2012 as follows: Background: We are all concerned at ou

Many interim applications - section 397/398 of Companies Act

Posted by Durga Rao 12 December 2011 21456 Views

It is known that proceedings under section 397/398 of the Companies Act, 1956 are always complicated. There will often be criticism that the jurisdiction of Company Law Board (CLB) under section 397/398 of the Companies Act, 1956 is being misused. A

Need of correcting our 'Indian Legal System'?

Posted by Durga Rao 23 September 2011 7713 Views

We may very often say great things about Indian Judiciary or legal system. It is true that we have had great legal luminaries, who played a very important role in our democracy defending the Fundamental Rights of the people, expanding the scope of

Subsidiaries under section 397/398 of Companies Act, 1956?

Posted by Durga Rao 21 September 2011 15702 Views

It is very frequently alleged that the remedy available to shareholders under section 397/398 of the Companies Act, 1956 is not effective. There are several issues to say as to why the remedy available to the shareholders under section 397/398 of