Wednesday, February 5

Tag: corporate law

Over 7,700 cos voluntarily exited biz since setting up C-PACE: Govt
11Dec By adminNo Comments
Business

Over 7,700 cos voluntarily exited biz since setting up C-PACE: Govt

More than 7,700 companies have voluntarily closed down their business in the country since the setting up of the Centre for Processing Accelerated Corporate Exit (C-PACE) in May this year, and the time taken for voluntary exit has come down to around 110 days, according to the government. The corporate affairs ministry operationalised the C-PACE on May 1, 2023, to facilitate and expedite the applications filed for voluntary exit under the provisions of Section 248 (2) of the Companies Act, 2013. The applications for voluntary closure under C-PACE are processed in a centralised manner for an efficient and uniform outcome, Minister of State for Corporate Affairs Rao Inderjit Singh said on Monday. "Since the setting up of C-PACE, 7,721 companies have been struck o...
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Barr and Berry Reply on Delaware and ESG
4Dec By adminNo Comments
World

Barr and Berry Reply on Delaware and ESG

Thank you to Lawrence Cunningham and Joseph Petito (Letters, Nov. 29) for responding to our article “Delaware is Trying Hard to Drive Away Corporations,” Cross Country, Nov. 25). We agree with Mr. Cunningham when he says Delaware’s corporate law remains shareholder-centric, the “gold standard.” Our concern is with how the evident interest of Delaware’s leading lights in environmental, social and governance (ESG) principles is likely to affect that gold standard.What’s playing out is a classic motte-and-bailey tactic. Activists and boardroom advisers alike can use Delaware’s Caremark doctrine to push companies into ESG-inspired policies on diversity and sustainability under elastic conceptions of “risk management.” But if you question the compatibility of this regime with politically neutr...
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