{"id":85767,"date":"2019-03-05T18:27:57","date_gmt":"2019-03-05T12:57:57","guid":{"rendered":"http:\/\/factly.forumias.com\/?p=2147"},"modified":"2019-03-05T18:27:57","modified_gmt":"2019-03-05T12:57:57","slug":"mallya-row-sebi-seeks-changes-to-companies-act","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/mallya-row-sebi-seeks-changes-to-companies-act\/","title":{"rendered":"Mallya row: SEBI seeks changes to Companies Act"},"content":{"rendered":"\n<ol class=\"wp-block-list\"><li>Capital markets regulator,Securities Exchange Board of India(SEBI) has requested the government to amend the Companies Act to ensure that a director declared by Sebi as a disqualified person should immediately vacate the position.This appeal was required due to defaulter businessman Vijay Mallya&#8217;s reluctance to vacate his position as a director.<\/li><li>Under the Companies Act, the office of a director becomes vacant in case of he or she being disqualified by an order of a court or a tribunal, among other reasons,but there is no explicit mention of an order by the Securities and Exchange Board of India (Sebi).<\/li><li>In order to rectify this,Sebi has proposed that the Companies Act should also clearly mention that a person should vacate the office of a director if Sebi orders his or her disqualification. <\/li><li>The Companies Act 2013 is an Act of the Parliament of India on Indian company law which regulates incorporation of a company,responsibilities of a company, directors, dissolution of a company<\/li><\/ol>\n","protected":false},"excerpt":{"rendered":"<p>Capital markets regulator,Securities Exchange Board of India(SEBI) has requested the government to amend the Companies Act to ensure that a director declared by Sebi as a disqualified person should immediately vacate the position.This appeal was required due to defaulter businessman Vijay Mallya&#8217;s reluctance to vacate his position as a director. Under the Companies Act, the&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/mallya-row-sebi-seeks-changes-to-companies-act\/\">Continue reading <span class=\"screen-reader-text\">Mallya row: SEBI seeks changes to Companies Act<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3127],"tags":[3198,3199],"class_list":["post-85767","post","type-post","status-publish","format-standard","hentry","category-economy","tag-companies-act","tag-sebi","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704910611},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/85767","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=85767"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/85767\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=85767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=85767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=85767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}