CORPORATE LAWS

1. A Co. making bona-fide efforts to repay deposits is to be given time to clear all deposits : CLB.
CL: Where company could not make payment as mandated under section 74(1), and it was making bona fide efforts in making repayments to depositors, company was to be given time to clear all deposits.

2. Min. of Home Affairs cancels registration of 8,975 foreign-funded NGOs for not filing their annual returns.

3. Secured creditor can’t auction property without following procedure prescribed under SARFAESI.
SARFAESI : Insistence of law is that secured creditor in order to exercise its right to enforce security by bringing secured asset of borrower to sale must ensure that it has invoked permissible 'measures' strictly 'in accordance' with provisions of law and rules made thereunder.