Introduction – Rising Phoenix Companies in India When a new company emerges from the ashes of a failed predecessor with the same controllers and operations, this activity is called the phoenixing of companies. The same directors and shareholders who were involved in the failed version of the company participate in the phoenix process, and they […]
COMBATING ILLEGAL PHOENIXING: INDIAN LAWS AND REFORMS Read More »
The NCLT Mumbai Bench’s Ruling in Diven Dembla v. Precision Rubber Industries (2025) Reasoning and Doctrinal Soundness The Tribunal based its conclusion on a chain of authorities, citing: A. Sivasailam, Suryakant Gupta and Ravi Raj Gupta as aligning with the principle that Section 299 (and by parallel Section 184) is not infringed if “other members of the
Introduction A statutory duty on company directors to disclose personal interests to their board is imposed via Section 184 of the Companies Act, 2013. A disclosure rule that has its lineage in Section 299 of the erstwhile Companies Act, 1956. This article traces the origins and evolution of that disclosure duty from the 1956 Act
