Mr. V. K. Kaul was a non-executive independent director of Ranbaxy Laboratories Limited for the period from January 1, 2007 to December 18, 2008.
The concept of Insider Trading in India started fermenting in the 80’s and 90’s and came to be known and observed extensively in the Indian Securities market.
The Supreme Court of India, on 31st August 2012, in one of its most anticipated judgment of recent times has directed the Sahara Group and its two group companies Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited (SHICL) to refund around Rs 24,029 crore to their 29.6 million investors within the stipulated time of 3 months from the date of the order with an interest of 15% per annum.
Rule in Foss v Harbottle is a leading English precedent in corporate law. According to this rule, the shareholders have no separate cause of action in law for any wrongs which may have been inflicted upon a corporation. The rule is named after the 1843 case in which it was developed.
Undisclosed Principal is a concept covered under law of Agency. Undisclosed Principal is a person who acts through an agent for the purpose of any negotiations with the third party, without his identity being disclosed. The third party does not know about the existence of such principal and deems the agent as if he is acting for himself. In other words, the third party considers the agent to be the principal.