News Alert: Designation of Special Courts in the States of Maharashtra, West Bengal and Tamil Nadu and SEBI to Provide E-Voting for Demat Account Holders

1.News from the desk of Ministry of Corporate Affairs (MCA):

Designation of Special Courts in the States of Maharashtra, West Bengal and Tamil Nadu under the Companies Act, 2013

In terms of Section 435 (1) of the Companies Act, 2013 (Hereinafter referred to as the “Act”), the Central Government is empowered to establish or designate Special Courts for the purpose of providing speedy trials of offences under the Act. By virtue of such powers, the Central Government has designated the below courts as Special Courts in the States of Maharashtra, West Bengal and Tamil Nadu for the purposes of trial of offences under the Act:

1. Court Number 22, City Civil and Sessions Court, Mumbai;
2. Court Number 39, City Civil and Sessions Court, Greater Mumbai;
3. 5^th Special Court, Calcutta;
4. Principal Judge, City Civil Court, Chennai

The complete text of the circular may be viewed at below link:

http://egazette.nic.in/WriteReadData/2020/223416.pdf

2.News from the desk of Securities and Exchange Board of India (SEBI):

E-voting for all Demat Account Holders

SEBI has decided to enable e-voting for all demat account holders by way of a single login credential through their demat accounts and websites of depositories.

Demat account holders would now be able to cast their votes without having to register again with the e-voting service providers (ESPs), thereby not only facilitating seamless authentication but also enhancing ease and convenience of participating in the e-voting process. This will be implemented in a phased manner.

The complete text of the circular may be viewed at below link:

https://www.sebi.gov.in/legal/circulars/dec-2020/e-voting-facility-provided-by-listed-entities_48390.html

Last updated: 16/12/2020

Article contributed by:

Munesh Gaur

Senior Associate

MBG Corporate Services