The Fugitive Economic Offenders Bill, 2018
The Fugitive Economic Offenders Bill, 2018 was introduced in the Lok Sabha on March 12, 2018. This proposed legislation seeks to confiscate properties of absconding economic offenders who have left the country unauthorized to avoid criminal prosecution. The bill suggests that action against such fugitive can be initiated by a director or deputy director appointed under the Prevention of Money-Laundering Act, 2002. The appointed director can then submit an application naming the fugitive for the attachment of the fugitive’s properties.
NCLAT on Director’s Participation in Board Meeting via Video Conferencing
An order passed by the NCLAT 2018 reiterated the status of Section 173(2) of the Companies Act, 2013 as a mandatory requirement and not an optional requirement under law. Upon a reading of the afore mentioned provision in Companies Act, 2013 along with the corresponding rules framed thereunder and the judicial view on this subject, the NCLAT ruled that companies are mandated to provide video conferencing facilities for Board meetings if a director requests for such a facility. Therefore, companies do not have the option to decline video conferencing if requested by a director on the board of the company.
Chattisgarh HC on Applicability of Factories Act
The Chattisgarh High Court on February 16, 2018 in Writ Petitions #2636 of 2010 and #2199 of 2012, reiterating the Hon’ble Supreme Court’s position in Lanco Anpara v State of Uttar Pradesh for the applicability of the Factories Act, 1948, held that the moment manufacturing process begins in an industry, the provisions of the Factories Act, 1948 would be applicable, and therefore, the provisions of the Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Act, 1996 would cease to operate in a factory.