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Mergers & Schemes of Arrangement: The subtle compliance traps that delay NCLT approvals
Corporate restructuring through a Scheme of Arrangement under Sections 230โ232 of the Companies Act, 2013 is a powerful vehicle for business consolidation and shareholder value creation. However, obtaining sanction from the Honโble NCLT is not merely a legal proceeding - it is an exercise in meticulous secretarial precision. In our consulting practice, we frequently observe schemes getting delayed due to avoidable procedural oversights: ๐น The Disconnect in Appointed Da
Sandeep Lakhotia
1 day ago1 min read
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The 24-hour vs. 12-hour dilemma: Where listed company disclosure frameworks still break down
Ever since the amended Regulation 30 of SEBI (LODR), 2015 compressed disclosure timelines, boards and compliance teams have been running against the clock. But having spent 22+ years inside listed entities and now advising boards as a Practicing Company Secretary, here is what I observe in disclosure audits: The challenge is rarely the filing mechanism itself. The breakdown occurs at the internal event-identification threshold. 3 critical vulnerabilities we frequently remedia
Sandeep Lakhotia
Sep 151 min read
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๐ข NSE Tightens the Screws on UPSI Handling - Here's what Every Listed Company needs to hear
SEBI's insider trading framework has evolved from a reactive enforcement tool into a proactive governance discipline. This latest NSE Circular (Ref: NSE/CML/2026/19 dated August 07, 2026) is a textbook example of that shift. On the surface, it reads as "suggested best practices." Read between the lines, and it's NSE signaling that the days of loosely maintained UPSI records are numbered. ๐ช๐ต๐ฎ๐ ๐๐ต๐ฒ ๐๐ถ๐ฟ๐ฐ๐๐น๐ฎ๐ฟ ๐๐๐ธ๐ ๐๐ผ๐ฟ: 1๏ธโฃ A structured digital database โ not
Sandeep Lakhotia
Aug 122 min read
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