I received an interesting query on Quora earlier this month. Another day, another reader asked on WhatsApp why Registrar of Companies or Serious Fraud Investigation Office is not taking action against “PMC Bank Limited”. The reader was ignorant of the word “co-operative” in the name of scam-hit banks. Last year, one member/shareholder of the State Bank of India queried about compliance by the bank under the Companies Act, 2013.
The Companies (Amendment) Act, 2017 has amended the definition of Debenture with an interesting and confusing way. We will discuss it hereunder.
A Corporate Law Consultant or Practicing Company Secretary always subscribe for all kind of news alert and updates from regulatory authorities. Reserve Bank of India is one of the most fatal subscriptions. Oh no! They not send us virus but all fraudsters love to be their look – like.
Even though, I have all regular E – mail ids of Reserve Bank of India in my contact list. Therefore, I am able to delete all suspicious mail looking similar to that of Reserve Bank of India. Last year, I receive a mail form one such mail and opened. This was looking spam as they are asking some details which are not usually asked by authorities through E – mail but through Public Announcement using all media coverage.