LIJDLR

accountability

ANALYSIS OF THE RECENT DEVELOPMENTS IN CORPORATE LAW: IMPLICATIONS FOR PRIVATE COMPANIES

Volume II Issue IV /

ANALYSIS OF THE RECENT DEVELOPMENTS IN CORPORATE LAW: IMPLICATIONS FOR PRIVATE COMPANIES Ajeet Singh, student of Fourth Year- BA LLB(Hons.) at Heeralal Yadav Law College, Lucknow Download Manuscript doi.org/10.70183/lijdlr.2024.v02.49 This article analyses the latest modifications in Corporate Law or Business law in India and how these modified laws impact Private companies or the Private sector. The Companies Act of 2013 has been amended to improve the administration and accountability of companies. The ‘Satyam Computer Service Ltd. Vs Serious Fraud Investigation Office’ landmark case contributed to major Amendments to the Companies Act of 2013, which shows that companies need independent directors to provide neutral surveillance, and audit committees are essential to ensure truthfulness and integrity. These major amendments are as follows: (1) Compulsory independent directors, (2) Separate meetings for independent directors, (3) Compulsory audit committee, and (4) Consolidated audit committee responsibilities. ‘Samsung Vs Union of India’ case has also led to a significant development in Corporate Law, specifically in the field of Corporate Social Responsibility, which explains that companies must utilize 2 per cent of their profits on Corporate Social Responsibility practices by ‘section 135 of the Companies Act of 2013’ and all private companies must tell their Corporate Social Responsibility practices and expenses in the Financial Report. This case ruling has implications for all private companies of India whose net worth of Rupees 500 crore or more must utilise 2 per cent of their average profit on Corporate Social Responsibility and private companies must develop ‘Corporate Social Responsibility’ policies and strategy by ‘schedule 7th of the Companies Act, 2013’. Private companies must focus on corporate government and social responsibility for sustainable growth and trust from society and investors. Type Information Research Paper LawFoyer International Journal of Doctrinal Legal Research, Volume II, Issue IV, Page 163-178. Creative Commons Copyright This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. © Authors, 2024

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PARLIAMENTARY PRIVILEGES IN INDIA: EXPLORING THE IMPERATIVE FOR CODIFICATION AND A COMPARATIVE PERSPECTIVE WITH AUSTRALIA

Volume II Issue III /

PARLIAMENTARY PRIVILEGES IN INDIA: EXPLORING THE IMPERATIVE FOR CODIFICATION AND A COMPARATIVE PERSPECTIVE WITH AUSTRALIA Prakriti Dutta, 3rd year BALLB(H), Symbiosis Law School, Pune Download Manuscript doi.org/10.70183/lijdlr.2024.v02.9 “Parliamentary privilege is not a cloak for fraud.” – Lord Denning Is it really necessary to grant special privileges to those who represent, serve, and govern the people? This is arguably the most critical question in the history of democracy. Why should we grant special rights to politicians in their capacities as representatives is a subject that has been posed all across the world? The term “parliamentary privileges” refers to the specific rights and protections afforded to members of parliament; this question becomes highly pertinent. This study digs into the complex world of parliamentary privileges, looking at their development across time and current problems. It gives a thorough analysis of these advantages within the Indian legal system, covering their reach, their immunities, and the precarious balance between accountability and immunity. The research reveals different approaches to parliamentary privileges in various democratic systems through a comparative lens with Australia. The study fervently supports the codification of privileges as a revolutionary step towards enhancing accountability, transparency, and efficient governance. To eloquently depict the complex challenges legislators face while juggling their advantages in the face of the demand for responsible behaviour, a captivating Indian case study is explored. Type Information Research Paper LawFoyer International Journal of Doctrinal Legal Research, Volume II, Issue III, Page 118-140. Creative Commons Copyright This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. Copyright © LIJDLR 2024

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JUSTICE AND RECONCILIATION: A STUDY OF TRUTH COMMISSIONS AND THEIR ROLE IN POST-CONFLICT SOCIETIES

Volume II Issue III /

JUSTICE AND RECONCILIATION: A STUDY OF TRUTH COMMISSIONS AND THEIR ROLE IN POST-CONFLICT SOCIETIES Darshini.A, Student at TAMIL NADU Dr.AMBEDKAR LAW UNIVERSITY, SCHOOL OF EXCELLENCE IN LAW. Download Manuscript doi.org/10.70183/lijdlr.2024.v02.8 This study looks at how truth commissions can help post-conflict communities move toward justice and reconciliation. This study examines the legal frameworks, guiding principles, and procedures about truth commissions through an extensive analysis of international and national legislation, cases, and scholarly works. The experiences of several truth commissions are compared using a comparative method, emphasizing the effects they had on communities, offenders, and victims. According to the report, truth commissions have been helpful in advancing institutional reforms, accountability, and restitution, but they have difficulty bringing about peace and attending to the concerns of marginalized communities. The study ends by outlining topics for more research and offering best practices for truth commissions. This research advances knowledge of transitional justice procedures and their function in fostering long-term peace. Type Information Research Paper LawFoyer International Journal of Doctrinal Legal Research, Volume II, Issue III, Page 107-117. Creative Commons Copyright This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. Copyright © LIJDLR 2024

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ROLE OF INDEPENDENT DIRECTOR IN CORPORATE GOVERNANCE

Volume I Issue III /

ROLE OF INDEPENDENT DIRECTOR IN CORPORATE GOVERNANCE Nancy Singh Suryavanshi, 4th year BA LLB (Hons.) student at Narsee Monjee Institute of Management Studies, Bengaluru. Download Manuscript ABSTRACT This article aimed to identify the different concepts of IDs in corporate governance. The term “corporate governance” refers to the structure for managing and overseeing a company. “ID” refers to board members who are not directly affiliated with the company or its administration. In addition to balancing the board’s authority with that of senior management, IDs are brought in to ensure that all board decisions are made from a fair and balanced vantage point. Particularly in publicly traded companies with ownership and control being kept separate, where IDs play a crucial role in corporate administration. In the backdrop of high-profile corporate scandals, the role and effectiveness of IDs in corporate governance have come under scrutiny in recent years. This research paper talks about the function of the ID in the context of corporate governance and its role, legal responsibility, and liabilities. The paper also discusses the challenges faced by IDs in carrying out their duties, such as the potential for conflict with other board members or the need to balance their obligations to different stakeholders, with a comparative analysis between IDs and Executive directors. Additionally, the abstract highlights the benefits that IDs bring to an organization, including increased transparency and accountability, improved decision-making, and enhanced investor confidence. Type Information Research Paper LawFoyer International Journal of Doctrinal Legal Research, Volume I, Issue III, Page 167- 184. Creative Commons Copyright This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. Copyright © LIJDLR 2023 Recent content ROLE OF INDEPENDENT DIRECTOR IN CORPORATE GOVERNANCE Water Rights And Climate Change: An Analysis Of Transboundary Water Conflicts Amidst Environmental Challenges In The Indus Region With Specific Reference To The Indus Waters Treaty Of 1960 Alternative Dispute Resolution Mechanism In India: Limitations And Recommendations Parallel Paths: Analysing The Overlapping Jurisdiction Of Cci And Sectoral Regulators In India CONTEMPORARY CONSTITUTIONAL CHALLENGES IN INDIA : AN ANALYSIS OF KEY ISSUES ADMINISTRATION OF A NON-GOVERNMENTAL ORGANISATION

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