Corporate Amicus: August 2012

Regulations and Rules covering acceptance and utilization of foreign contributions by individuals and entities in India are elaborated in this months' article in "Corporate Amicus". Product/activity group codes have been made mandatory for cost audit reports. Ministry of Corporate Affairs has also clarified on approval for remunerations to the non-whole time directors. While Delhi High Court has held that delay in pronouncement of the arbitration award not renders same as illegal, Securities Appellate Tribunal (SAT) holds that synchronized trading is per se not illegal.