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Nature of Case: Inquiry under section 19(1)(a) Competition Act, 2002 Case No. 30 of 2013 Brief Summary: The Competition Commission of India (“ CCI ”) imposed penalties totalling Rs 258 crores (INR 2.58 billion) on Jet Airways, IndiGo and SpiceJet for cartelisation in fixing fuel surcharge (“ FSC ”) for transporting cargo. The inquiry was initiated against 5 airlines namely Jet Airways, IndiGo Airlines, Spice Jet, Air India, and Go Air based on a complaint filed by Express Industry Council of India under Section 19(1)(a) of the Competition Act, 2002 ( “Act” ) in May 2009 against the FSC for transporting cargo by Airline companies. The principal issue was whether the Airlines had operated in a “concerted action” by overcharging for cargo freight. Though the enquiry conducted by the Director General (“ DG ”) found that the Airlines were not resorting to any collusion, the CCI rejected the DG’s findings and penalised three carriers, namely Jet Airways, InterGlob...

As per the Companies Act, 2013: S.No Section Disclosure in Directors Report 1.         67 Proviso disclosures in respect of voting rights not exercised directly by the employees in respect of shares to which the scheme relates shall be made in the Board's report 2.         92(3) An extract of the annual return in any form as may be prescribed shall form part of the Board’s report 3.         131 detailed reasons for revision of such financial statement or report shall also be disclosed in the Board's report in the relevant financial year in which such revision is being made 4.         134 1.       extract of the annual return 2.       number of mee...

BOMBAY  ORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION (L) NO. 1688 OF 2015 M/s Nestle India Limited a Company incorporated under the provisions of the Companies Act, 1956 -Petitioner. Versus 1. The Food Safety and Standards Authority of India- Respondent 1 2. The Chief Executive Officer, The Food Safety and Standards Authority of India -Respondent 2 3. State of Maharashtra, through the Ministry of General Administration Department, Mantralaya, Mumbai -Respondent 3 4. Commissioner of Food Safety, State of Maharashtra, -Respondent 4 Brief Facts The petitioner namely, Nestle India Limited, a food company has instituted a writ petition in the High Court of Mumbai, against the Food Safety and Standard Authority of India (FSSAI) (R1), CEO of FSSAI (R2), the State of Maharashtra (R3) and the Commissioner of Food Safety Maharashtra (R4). The writ is filed for quashing and setting aside of the ban orders passed by R2 on 05/06/2015 due to which the petitioner ...

Who are minority shareholders? Any shareholder holding a nominal or minimal amount of shares, not sufficient to effect any change is a minority shareholder of a company. As per the Companies Act, 2013, the provisions providing for the right of minority shareholders is as follows:- 1.       Right of shareholder of a private company to vote against entrenchment [1] ; 2.       Right of shareholder to object to amendment in prospectus; right to be given option to exit and exit price as determined by SEBI [2] ; 3.       Right to object to changes in shareholder rights, and apply to the Tribunal for the cancellation of such variation [3] ; 4.       Right to freely transfer shares [4] ; 5.       Right of shareholder to be given notice for any resolution requiring special notice [5] ; 6.       Right of shareholder to appoint a...