The said Act provides for passing of resolutions by circulation and for appointment of alternate Directors, which provided alternatives. Hitherto only physical meetings were recognized as meetings for purposes of the (Indian) Companies Act, 1956. IT ALIENS News & Letter by PaperStreet Web Design INDIAN PRACTICE – Board/Committee Meetings of an Indian Company through Video-conferencingīy a Circular dated May 20, 2011, the Ministry of Corporate Affairs (MCA) has clarified that participation by Directors in meetings of the Board or Committee of Directors through electronic mode will be recognized. Any investment companies shall be entitled to use experts of
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Any investors shall have the right to make transfer or repatriation in foreign currency to, among others: capital profit, bank interest, dividend, and any other revenue funds required for: purchasing raw materials and support materials, intermediate products, or final product reimbursement of capital goods in order to secure the investment additional fund required for financing investment fund for loan repayment payable royalty or interest income of any foreign individuals working in any investment company the proceeds of any sale or liquidation of investment compensation for any loss compensation for any takeover payment made for technical aid, payable costs for technical service and management, payment made under project contract, and payment for intellectual property right and proceeds of asset sale. Unless otherwise stipulated by the law, any foreign investment shall be in form of limited liability companies based on the law of the Republic of Indonesia. Foreign Capital shall be any capital owned by any foreign country, individual foreign citizen, foreign corporation, foreign legal entity, and/or Indonesian legal entity, whose capital is owned partially or entirely by foreign party. Foreign Investor shall be any individual foreign citizen, foreign corporation, or foreign state making investment within the territory of the Republic of Indonesia. (Contributors: Lunaskaya Advocates – Jakarta) Foreign Investment shall be any investing activity for running business within the territory of the Republic of Indonesia, made by any foreign investor using either foreign capital entirely or joint capital with domestic capital. IT ALIENS News & Letter by PaperStreet Web Design INDONESIA. FASANO avvocati, in cooperation with MSDA, launched a web site (in Italian) dedicated to such collective claims rising up: Read More
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The government has set up a 100-million-euro fund which savers’ groups say will not be enough. The four failed lenders’ 3.6-billion-euro government-decreed rescue in November, financed by healthy Italian banks, saved jobs and protected account holders, but shares and bonds in the banks are now worthless. The small investors whose savings went up in smoke are seeking government compensation. The arbitrators will be tasked with deciding whether bank officials who sold investors subordinated bonds – a relatively risky investment instrument – did so according to the rules of transparency and correct practice. The panels will be made up of officials who have performed the same roles for the Bank of Italy or stock exchange commission (CONSOB). Arbitration will take a maximum of 120 days and will be decided by a majority vote.
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Twelve panels of five members each will be set up and will make their recommendations to the National Anti-Corruption Authority (ANAC).
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The elderly and those who have lost the most will get preference in upcoming arbitration, free of cost, for investors left with worthless bonds after the rescue of four small lenders, Banca Etruria, Banca Marche, CariFe and CariChieti, according to a draft decree of Italian Govt. AL DENTE Alerts & Breaking News by PaperStreet Web Design Fast Arbitration for small investors