Category: IT ALIENS News & Letter

Oct 10, 2011 - IT ALIENS News & Letter by


Pierfrancesco C. Fasano will be panelist at Economic Conference on “Botticino, the basin of marble and the challenges of global competition” organized in Botticino (Brescia – Italy) by Brescia Chamber of Commerce, Classic Botticino Marble Consortium and other regional authorities and stakeholders, for the 150 years Italy unification celebration and 100 years “Altare della Patria” (All wars memorial monument build in Rome by Classic Botticino Marble) celebration. Speech title: “Local identity protection in the global scenario. The Collective Trademark Marmo Botticino Classico showcase”.

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Sep 10, 2011 - IT ALIENS News & Letter by


 (Contributors: Lunaskaya Advocates – Jakarta) Foreign Investment shall be any investing activity for running business within the territory of the Republic of Indonesia, made by any foreign investor using either foreign capital entirely or joint capital with domestic capital. Foreign Investor shall be any individual foreign citizen, foreign corporation, or foreign state making investment within the territory of the Republic of Indonesia. Foreign Capital shall be any capital owned by any foreign country, individual foreign citizen, foreign corporation, foreign legal entity, and/or Indonesian legal entity, whose capital is owned partially or entirely by foreign party. Unless otherwise stipulated by the law, any foreign investment shall be in form of limited liability companies based on the law of the Republic of Indonesia. Any investors shall have the right to make transfer or repatriation in foreign currency to, among others: capital; profit, bank interest, dividend, and any other revenue; funds required for: purchasing raw materials and support materials, intermediate products, or final product; reimbursement of capital goods in order to secure the investment; additional fund required for financing investment; fund for loan repayment; payable royalty or interest; income of any foreign individuals working in any investment company; the proceeds of any sale or liquidation of investment; compensation for any loss; compensation for any takeover; payment made for technical aid, payable costs for technical service and management, payment made under project contract, and payment for intellectual property right; and proceeds of asset sale. Any investment companies shall be entitled to use experts of […]

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Jun 10, 2011 - IT ALIENS News & Letter by

INDIAN PRACTICE – Board/Committee Meetings of an Indian Company through Video-conferencing

By a Circular dated May 20, 2011, the Ministry of Corporate Affairs (MCA) has clarified that participation by Directors in meetings of the Board or Committee of Directors through electronic mode will be recognized. Hitherto only physical meetings were recognized as meetings for purposes of the (Indian) Companies Act, 1956. The said Act provides for passing of resolutions by circulation and for appointment of alternate Directors, which provided alternatives. However, it was a long-standing industry demand to recognize meetings through electronic mode. Under the Circular, there are certain conditions subject to participation through electronic means will be recognized. Simultaneously, the MCA has issued another Circular recognizing participation by shareholders in meetings through electronic mode. The Circulars are a step in the right direction. Going along the MCA will have to address the issues that crop up before there is complete clarity on attending meetings through video-conferencing.

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