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Interpretation of the Word 'Control' Under the New Companies Act - Prof. Parchar, Schemes and Mind Maps of Communications Law

The interpretation and application of the term 'control' under the new companies act 2013 in india. It provides an in-depth analysis of the definition of 'control' as per the act, the various mechanisms of control in corporate governance, and how the term is defined and applied under other related enactments such as the previous companies act 1956, sebi regulations, fdi policy, and the competition act 2002. The document also examines the distinction between 'control' and 'subsidiary', and includes a case study to illustrate the practical implications. The research aims to address the ambiguity and lack of uniformity in the definition of 'control' across different regulations, and establish its relevance and interpretation in the corporate landscape.

Typology: Schemes and Mind Maps

2022/2023

Uploaded on 02/24/2023

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INTERPRETATION OF THE WORD ‘CONTROL’ UNDER THE NEW ACT
- Sudhanshu Singh
REVIEW OF LITERATURE
1. G K Kapoor, Sanjay Dhamija, Companies Act, 2013, Taxman Publications, 20th Edn (2015)
This book has rightly dealt with explanation of the various important changes introduced under
the new companies act comparing it with the old 1956 legislation. Specifically talking about
the definition under section 2(27) i.e. of the word ‘control’, the book has aptly described the
manner of the interpretation and application of this word under various circumstances along
with reliance on certain real examples and relevant case laws.
2. James P. Walsh and James K. Seward, On the Efficiency of Internal and External
Corporate Control Mechanisms, The Academy of Management Review Vol. 15, No. 3
(Jul., 1990), pp. 421-458 accessed at http://www.jstor.org
For explanation of various types of control mechanisms, the researcher has relied on the above
article where the entire paper has aptly dealt with the strength and shortcomings of both kinds
of control mechanisms that can be employed to help align the diverse interests of managers
and shareholders.
RESEARCH PROBLEM
The lack of proper definitions and regulations with regard to the issue of ‘control’ under
company law and varying definitions of the same as given under various other rules and
regulations has made the researcher work on the problem of solving the ambiguity over the
interpretation of the word and rightly establish its actual relevance in the corporate world.
SCOPE AND OBJECTIVE
The scope of the research project is limited to areas of applicability of the word ‘control’
highlighting the need and manner in which the same is interpreted under varying situations and
circumstances.
The objective is to explain clearly how the word ‘control’ should be interpreted according to
its definition under the new companies Act meanwhile differentiating the interpretation from
other regulations of similar nature. In addition, to understand whether the widely differing
definitions of the term ‘control’ are sufficient in themselves or whether a certain degree of
uniformity or harmonisation in the definition is desirable.
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INTERPRETATION OF THE WORD ‘CONTROL’ UNDER THE NEW ACT

  • Sudhanshu Singh REVIEW OF LITERATURE
  1. G K Kapoor, Sanjay Dhamija, Companies Act, 2013, Taxman Publications, 20th^ Edn (2015) This book has rightly dealt with explanation of the various important changes introduced under the new companies act comparing it with the old 1956 legislation. Specifically talking about the definition under section 2(27) i.e. of the word ‘control’, the book has aptly described the manner of the interpretation and application of this word under various circumstances along with reliance on certain real examples and relevant case laws.
  2. James P. Walsh and James K. Seward, On the Efficiency of Internal and External Corporate Control Mechanisms , The Academy of Management Review Vol. 15, No. 3 (Jul., 1990), pp. 421- 458 accessed at http://www.jstor.org For explanation of various types of control mechanisms, the researcher has relied on the above article where the entire paper has aptly dealt with the strength and shortcomings of both kinds of control mechanisms that can be employed to help align the diverse interests of managers and shareholders. RESEARCH PROBLEM The lack of proper definitions and regulations with regard to the issue of ‘control’ under company law and varying definitions of the same as given under various other rules and regulations has made the researcher work on the problem of solving the ambiguity over the interpretation of the word and rightly establish its actual relevance in the corporate world. SCOPE AND OBJECTIVE The scope of the research project is limited to areas of applicability of the word ‘control’ highlighting the need and manner in which the same is interpreted under varying situations and circumstances. The objective is to explain clearly how the word ‘control’ should be interpreted according to its definition under the new companies Act meanwhile differentiating the interpretation from other regulations of similar nature. In addition, to understand whether the widely differing definitions of the term ‘control’ are sufficient in themselves or whether a certain degree of uniformity or harmonisation in the definition is desirable.

HYPOTHESIS

The research project is based on the hypothesis that even after the term ‘control’ being defined variedly under differing regulations the ambiguity with regard to its applicability still prevails even after it being defined specifically under the Companies Act, 2013 and hence, needs to be addressed properly. RESEARCH QUESTIONS What is the proper meaning of the word ‘Control’ with reference to Corporate law? What are the essentials that constitute its definition as per the Companies Act 2013? What are the various kinds of control mechanisms for proper corporate governance? CHAPTERISATION

1. ANALYSIS OF DEFINITION UNDER COMPANIES ACT 2013

2. MECHANISMS OF CONTRO

3. ‘CONTROL’ UNDER OTHER ENACTMENTS

3. 1 The Companies Act , 1956

3.2 SEBI Regulations

3.3 FDI Policy issued by the Reserve Bank of India

3.4 The Competition Act , 2002

3.5 Control under the Companies Bill 2009

4. CONTROL vs. SUBSIDIARY

5. CASE STUDY