"20 April 2020" Archive

Why Struck off Company must Opt for Restoration Immediately

Many of the defaulting Companies have been marked as 'Struck-Off' by the Registrar just because of non-filling of annual compliance based returns either since incorporation or for last two preceding financial years and out of many such Companies, few of which are carrying on its operations but the fact that the name of their Company is no...

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Posted Under: Company Law |

Director remuneration cannot be disallowed merely for approval post payment

PCIT Vs MLS CBRE South Asia Private Limited ((Delhi High Court)

PCIT Vs MLS CBRE South Asia Private Limited ((Delhi High Court) So far as the amount of Rs.4,73,39,848/- being the excess. Remuneration paid to Sh. Anshuman Magazine is concerned, we find the assessee has obtained approval of the competent authority though on 18.07.2011 i.e. much after the date on which such remuneration has been paid. I...

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Relaxation on applicability of restriction on Provisional ITC under GST

Relaxation on applicability of restriction on Provisional Input Tax Credit (ITC) Under GST Existing Provision: The concept of claiming provisional Input Tax Credit (ITC) has been changed from the 38th GST Council Meeting and now only 10% provisional ITC of Eligible ITC is allowed for the Invoices or debit notes not reflected in GSTR-2A an...

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Posted Under: Company Law |

Section 68 cannot be applied in relation to the sales receipt

Shree Sanand Textiles Industries Ltd. Vs DCIT (ITAT Ahmedabad)

The ITAT Ahmedabad has harped upon the mechanical practices adopted by the Assessing Officers to make addition u/s 68. The moot point is that a sale which already forms part of books of account cannot be added again u/s 68 due to the reasons that Sales are already recorded in the books of accounts and the addition of the same amounts t...

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Books of account closure and Lockdown Effects

Precautions Taxpayers and Businessmen are required to take while finalising books of account as on 31st March, 2020 considering the impacts of COVID-19 pandemic...

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Posted Under: Company Law |

Relaxations & Measures | Submission of Bond | Special Refund Drive | e-Bill of Entry

As a part of special measures / relaxations drive from various departmental authorities, the Central Board of Indirect Taxes and Customs (CBIC) has issued Instructions and Circulars to clarify on various aspect including Special Refund Drive, e Bill of Entry and Clearance without Bond. We have encapsulated important aspects from the clari...

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Posted Under: Company Law |

Coronavirus Lockdown Rules for Workplaces

Beginning April 20, India’s workplaces and work environments should follow these standards To battle against the savage COVID-19, the second period of across the nation lockdown started in India today. As reported by Prime Minister Narendra Modi, the Center gave new rules for working environments in the midst of national lockdow...

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Posted Under: Company Law |

Whether it is Mandatory to Mention Nature of Penalty w.r.t. Section 270A in Assessment Order

Section 270A(8) states that where an under-reported income is in consequence of any misreporting by any person, such person shall be liable to pay 200% penalty on an amount of tax payable on such under-reported income.As per the said sub-section, penalty in case of misreporting is equal to 200% of under-reported income....

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Posted Under: Company Law |

SEBI reduced timeline for intimation for holding of Board Meeting and other relaxations

In the wake of corona virus pandemic, SEBI has already issued various relaxations for listed companies vide its circular dated March 19, 2020 and March 26, 2020. In continuing the relaxation, SEBI has decided to grant further relaxations vide its circular dated April 17, 2020 from compliance with certain provisions of SEBI LODR Regulation...

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Posted Under: Company Law |

Locked Down – What are you Doing?

Locked down extended and it should be. Reason behind today’s article is what are you doing presently & going to do in coming days. I am not going to discuss with you what you had done in past locked down days. I want you to concentrate on coming days. Remember time is a valuable asset […]...

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Posted Under: Company Law |

Section 115BAC – A New Tax Regime for Individuals and HUFs

Similar to benefit of the concessional new tax regime for companies introduced in the Finance Act 2019, the Government came up with the concessional tax provisions for Individuals and HUFs by inserting a new Section 115BAC under the Income Tax Act, 1961 (‘Act’) with effect from FY 2020-21. The broad provisions are enumerated below: El...

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Posted Under: Company Law |

RCM under GST on Director Services-Problem to Solution

A. Provisions under GST law Services provided by director is supply under GST act and recipient of service i.e company located in India needs to pay GST@18% on RCM basis. Relevant extract from RCM ntfn-13/2017 dt 28.06.17 is produced as below: S.no. Category of Supply of Services Supplier of service Recipient of Service 6 Services [&helli...

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Posted Under: Company Law |

Special Valuation Branch – Procedures under Customs Valuation Rules

The Special Valuation Branch (SVB) investigates the transactions between the importer and the related foreign supplier. When the parties are related as per Rule 2(2) of the Customs Valuation (Determination of Value of Imported Goods) Rules, 2007 (Valuation Rules), then the valuation of goods as imported from such related foreign suppliers...

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Posted Under: Company Law |

COVID 19 Relaxations | Announcements by DGFT for MEIS, TMA and COO

On account of COVID 19, Indian Government is trying to provide relieves / measures to address the confusion / unrest in the industry. In continuation of our earlier email for extension of validity of policy and other parameters addressed by Commerce Ministry, we would also like to provide a brief of some of the important […]...

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Posted Under: Company Law |

COVID-19 enhancing the Transfer Pricing Risk

The Coronavirus (‘COVID-19’) pandemic has already caused major health crisis in almost entire world and has led to disruption of the global economy. The situation has resulted in economic slowdown and is likely to get worse in coming time. The International Monetary Fund (‘IMF’) has stated that the global economy has already enter...

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Posted Under: Company Law |

CSR Funds can be used to fight Coronavirus

The world is at a crisis situation. We are going through a pandemic with far reaching effects not seen by anyone living today. There are thousands of people dying all over the world and the numbers may soon reach lakhs. The effect is not only on the lives and health of the people, but also […]...

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Posted Under: Company Law |

Easy Understanding to Financial Derivatives

Introduction to Derivatives A derivative is a financial contract that derives its value from an underlying asset. The buyer agrees to purchase the asset on a specific date at a specific price. The most common types of derivatives are forwards, futures, options, and swaps. The most common underlying assets include commodities, stocks, ...

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Posted Under: Company Law |

Order of attachment of property purchased using proceeds of crime cannot be violative of right to property under Constituition

Triad Trading Services P. Ltd. Vs Union of India (Madras High Court)

A person who has purchased the  property using proceeds of crime cannot said to have any interest in the property and the protection under Article 300 A cannot be pressed into service by a perpetrator of a crime. Mere order of attachment could not be said to be violative of the constitutional right to property of the Article 300 A of the...

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Expenses incurred on sponsorship and endorsement was not includible in transaction value of imports

Commissioner of Customs Vs Adidas India Marketing Pvt. Ltd. (CESTAT Delhi)

Sponsorship and endorsement expenses paid by Adidas India to various athletes and players in India were not includable in the assessable value of the goods imported by Adidas India by invoking rule 10(1)(e) of the Customs Valuation (Determination of Value of Imported Goods) Rules 2007....

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Order passed by CESTAT without considering case on merits should be re-considered

Principal Commissioner of Customs Vs Sea Queen Shipping Services (Madras High Court)

Since there was absolutely no material that Revenue had failed in strictly adhering the limitation period under Regulation 20(7) of CBLR, 2013 and it was not the Revenue, who kept the file, without passing the final order under Regulation 20(7) within the 90 days limitation period and it had been kept pending only at the instance of the R...

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No section 68 addition can be made on the basis of mere statements

Modern Malleables Limited Vs DCIT (ITAT Kolkata)

Modern Malleables Limited Vs DCIT (ITAT Kolkata) Conclusion: Addition made u/s. 68 only on the basis of two statements which could not stand the scrutiny of law, was not justified and therefore, the addition could not be sustained as per law. Held: AO got information from the Investigation Wing pursuant to search operation conducted at [&...

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Start-Up India Scheme Analysis

The Start-Up India Scheme was launched by the Central Government in the year 2016. This idea was the brainchild of the honorable Prime Minister of India. It is one of the significant igniting forces in the start-up community of the nation. Start-Up India Scheme aims at forming a robust mechanism of new innovations and experiments. [&helli...

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Posted Under: Company Law |

Ease of Doing Business Index

DEFINITION: Ease of doing business is an index published by the World Bank. It is an aggregate figure that includes different parameters which define the ease of doing business in a country. DESCRIPTION: It is computed by aggregating the distance to frontier scores of different economies. The distance to frontier score uses the ‘regulat...

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Posted Under: Company Law |

Restructuring & Relief to MSME borrower’s- Auditor’s perspective

MSME plays an important role in our economy. This sector contributes significantly to the Indian Economy in terms of Gross Domestic Product (GDP), Exports and Employment generation. Understanding its difficulties, RBI from time to time has come out with host of measures to provide relief to this sector. The key important RBI circulars are...

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Posted Under: Company Law |

Audit of Expenses

Expenses are a high-risk area for any company when comes in terms of accounting and chances of fetching quality observations are quite high as compared to other accounting processes. A financial audit is a chance for the business to double-check books for accuracy and proper documentation of expenses. When reviewing company expenses, audi...

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Posted Under: Company Law |

Setting up Branch office/ post representative outside India

Indian dynamism, entrepreneurship and enthusiasm is seeking new horizons across the globe. Of course, anyone stepping into a foreign land must take care of the laws, rules and regulations of the host country. Each country is different and keeping abreast of the laws of different countries can indeed be a challenge. Reserve Bank of India [...

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Posted Under: Company Law |

All about Memorandum of Association (MOA) under Companies Act, 2013

Introduction The formation of a company takes place when a number of people come together for achieving a specific purpose. This purpose is usually commercial in nature. To incorporate a company, an application has to be filed. This application is required to be submitted with a number of documents to CRC (Central Registration Centre). On...

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Posted Under: Company Law |

Eligibility of Resolution Applicant : Section 29A of IBC Code, 2016

Section 29A of the Insolvency and Bankruptcy Code, 2016 has emerged as one of the key statutes in determining the eligibility of Resolution Applicants in the Corporate Insolvency Resolution Process. The Code, in its original form had not incorporated any provisions to prevent defaulting promoters from buying-back the corporate debtor, whi...

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Posted Under: Company Law |

GST on Export, Deemed Export, Supply to Merchant Exporter etc.

Meaning and Definitions: ♦ Customs frontiers of India means the limits of a customs area  as  defined  in section 2 of the Customs Act, 1962 [Section 2(4)]. ♦ Customs area means the area of a customs station or a warehouse and includes any area in which imported goods or export goods are ordinarily kept before […]...

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Posted Under: Company Law |

Personal Income Tax “Old Regime Vs New Regime”

Brief about new Personal Income Tax Regime & Key Highlights New section 115BAC is inserted in Income Tax Act by the Finance Act 2020 and it is applicable w.e.f 1st April 2020 and will be applicable on Individuals and HUFs for assessment year 2021-22 and subsequent assessment years. Under this section taxpayers i.e Individuals and [&he...

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Posted Under: Company Law |

SEBI amends 30 Regulations (Read List)

List of Regulations decided by SEBI to be amended by Securities and Exchange Board of India (Regulatory Sandbox) (Amendment) Regulations, 2020 The pandemic has cast its shadow across various economic activities with massive dislocation in global production, supply chains and trade. In wake of the current nationwide lock down of 21 days as...

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Posted Under: Company Law |

Telecommunication Interconnection Usage Charges (Sixteenth Amendment) Regulations, 2020-Overview

International termination charge (ITC) is the charge payable by an Indian International Long-Distance Operator (ILDO), who carries the call from outside the country, to the access provider in the country in whose network the call terminates. The Telecom Regulatory Authority of India (TRAI) today issued “The Telecommunication Interconnec...

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Posted Under: Company Law |

Credit Guarantee Fund for Micro Units- Overview & Alterations by Management Committee

Credit Guarantee Fund for Micro Units- Overview & Alterations by Management Committee What is a credit guarantee fund? Credit guarantee fund is a type of fund which backs up the loan taken by the beneficiaries as a form of collateral. This assures the lending agencies including banks, financial institutions to readily supply loans. Wh...

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Posted Under: Company Law |

Budget 2020: Amendments related to Non-Profit organization (NPO)

FM has proposed various amendments in Union Budget 2020 which includes Amendments in Section 12A, Section 80G, 12AA etc related to Registration of Charitable Trust or Non-Profit organization (NPO). Article discusses the same in detail- Question: My NGO has life time validity of 12A and 80G certificate, should I apply for fresh registratio...

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Posted Under: Company Law |

Ind AS 115: Revenue from Contracts- Contract Assets/ Liability

Objective of Ind AS 115: Reporting of useful information to users of financial statements about the nature, amount, timing and uncertainty of revenue and cash flows arising from a contract with customer. Para 9 of Ind AS 115: Revenue Recognition Revenue shall be recognized only if ALL the below mentioned criteria are met: a. the parties ...

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Posted Under: Company Law |

Some GST Aspects & Transactions Explained thru Q&A – Series II

Where the applicant is providing services to the Government and Government aided schools by building his own infrastructure under a particular project, will there be a GST exemption?...

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Posted Under: Company Law |

Vivad se Vishwas Scheme : An Insight

Article on The Direct Tax Vivad Se Vishwas Act, 2020  covers critical analysis, useful insights of the Scheme on eligibility to opt for the Vivad Se Vishwas Scheme, calculation of amount payable to settle the dispute, immunity from other proceedings, etc. Article also cover procedural aspects of Vivad Se Vishwas Scheme. The Government ha...

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Posted Under: Company Law |

Exemption for payment from approved superannuation fund Section 10(13)

Provisions of section 10(13) of the Income Tax Act exempts payment received from an approved superannuation fund. The present article briefly explains the term ‘approved superannuation fund’ and covers exemption available under provisions of section 10(13). Basic understanding of the term ‘approved superannuation fund’ and tax ben...

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Posted Under: Company Law |

HC allows filing of GST TRAN-1; Not filed despite efforts due to Technical Glitches

Nodal Officer Vs GST Council (Gujarat High Court)

Nodal Officer Vs GST Council (Gujarat High Court) While in the case on hand, this Court has not declared the said Rule 117 of the CGST Rules, 2017 neither this Court has ordered the respondents to carry forward CENVAT credit beyond the time limit, but in the case on hand, the respondents herein had tried […]...

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IBBI (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2020.

Notification No. IBBI/2020-21/GN/REG056 (20/04/2020)

INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 20th April, 2020 Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2020. No. IBBI/2020-21/GN/REG056.—In exercise of the powers conferred by clause (t) of sub-section (1) of section 196 read wi...

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Section 115BAC Concessional Tax Regime for Individual & HUF

Analysis of newly inserted section 115BAC (Concessional Tax Regime for Individual and Hindu Undivided Family) 1. The Finance Act, 2020 inserted new section 115BAC, the section provides that notwithstanding anything contained in other provision of Income Tax Act, 1961, Income tax payable in respect of Income of a person being individual an...

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Posted Under: Company Law |

Charging Section of CGST Act-2017 – Section 9

Charging section of the CGST act only deal with collection of CGST. As per CGST Act 2017 there shall be levied a tax called Goods and Service Tax on all the Intra state supplies of goods and services on the value determined u/s 15 of the CGST Act 2017....

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Posted Under: Company Law |

IBBI (Liquidation Process) (Second Amendment) Regulations, 2020

Notification No. IBBI/2020-21/GN/REG060 (20/04/2020)

INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 20th April, 2020 Insolvency and Bankruptcy Board of India (Liquidation Process) (Second Amendment) Regulations, 2020 No. IBBI/2020-21/GN/REG060.—In exercise of the powers conferred by clause (t) of sub-section (1) of section 196 read with section 240 of the Insolvency ...

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Cash Sale Limit under GST / Income Tax Act

CGST Act 2017 has no provision restricting cash transactions, but In order to, curb black money ,the government has imposed various restrictions on cash receipts /payments and cash withdrawal  from time to time through Income Tax Act 1961. The Government has amended clause 84 of Section 194N vide Finance Act 2020 . Accordingly TDS @ [&he...

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Posted Under: Company Law |

IBBI (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Amendment) Regulations, 2020

Notification No. IBBI/2020-2021/GN/REG058 (20/04/2020)

INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 20th April, 2020 Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Amendment) Regulations, 2020. No. IBBI/2020-2021/GN/REG058.—In exercise of the powers conferred by sections 196, 203 and 205 read with se...

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Foreign Investment from China to fall under Government Route?

The Indian Government has always taken steps towards promoting foreign investor interests’ in the Indian businesses. Past initiatives such as Make in India, Start-Up India programs are live examples of attracting foreign investors to the Indian business market....

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Posted Under: Company Law |

Separate GST Registration in State where imported goods are cleared for sale?

No separate GST Registration is required in the State where imported goods are cleared for sale to customer in the context of Kardex India Storage Solution (P) Ltd. Separate GST Registration in State where imported goods are cleared for sale to customer? A. Brief Fact of the case: M/s Kardex India Storage Solution (P) Ltd, […]...

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Posted Under: Company Law |

Anti-Dumping investigation of imports of Copper & Copper Alloy Flat Rolled Products

Case No. ADD-OI- 06/2020 (20/04/2020)

Initiation of Anti-Dumping investigation concerning imports of Copper & Copper Alloy Flat Rolled Products originating in and exported from China PR, Korea RP, Malaysia, Nepal, Sri Lanka, and Thailand....

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Crux Analysis of GST Liability on Directors Remuneration

The Background on which the whole discussion of RCM Liability on Directors Remuneration is connected with the Notification 13/2017 CTR dated 28.06.2017 called as the RCM notified services list. In this list as per the entry number 6 of this notification services supplied by a Director of a company or a body corporate to the […]...

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Posted Under: Company Law |

Initiation of New Shipper Review Investigation For Determination of Individual Countervailing/ Anti-Subsidy Duty

Case No. CVD-NSR-01/2020 (20/04/2020)

Initiation of New Shipper Review investigation for determination of individual countervailing/ anti-subsidy duty rate for M/s. Shandong Haohua Tire Co., Ltd., China PR (Producer) in the case of Anti-Subsidy duties imposed on New/Unused pneumatic radial tyres with or without tubes and/or flap of rubber (including tubeless tyres), having no...

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Corporate Governance: USA vs India, a comparison & lessons to be learnt

The contours of corporate governance get pronounced from all meetings of big, medium or small industrial forum. Some of them claim its success while some others portray it as a villain. But corporate governance has, however, come to occupy a prominent position and the time has come to compare its strength in U.S.A., its origin […]...

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Posted Under: Company Law |

GST: Implications on ITC for non-payment to supplier within 180 days

Implications on input tax credit (ITC) on account of non-payment to supplier within 180 days Second proviso to section 16(2) of the CGST Act provides that where the amount towards value of supply along with tax payable thereon is not paid to the supplier within 180 days from the date of issue of invoice, an […]...

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Posted Under: Company Law |

Limiting refund of ITC amount on ZERO-RATED Export of Goods: A set- back to SEZ units

Central Government vide Notification No. 16/2020 Dated March 23, 2020 has amended the definition of Zero-rated export of goods for the purpose of claiming of refund on the ITC u/s 89(4) of the CGST Rules, 2017. CHAPTER X of the CGST Rules, 2017 provides the provision and procedure related to the refund under the GST regime....

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Posted Under: Company Law |

Why should you invest in Gold Sovereign Bonds

Gold has traditionally been a major investment product available for the generations upto our parents. Even in the present era where various financial products available, financial planners advise investment of certain percentage in gold for diversification. Indian and specially females, are obsessed with gold, a  major part of which is...

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IBBI penalises RP for Outsourcing his work & for Casual attitude

Notification No. IBBI/DC/21/2020 (20/04/2020)

 In this matter, the DC observes that (a) The RP had outsourced his duty and engaged IPE for verification of claims. He further included the payment made for the same in the IRPC thereby burdening the ailing Corporate Debtor with additional costs (b) The fee of Rs 3,00,000/- plus GST has been paid to the […]...

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GSTN enabled work from home possible for GST Staff

D.O.No.11/CH(IC)/2020 (20/04/2020)

Coming close after our innovation in making it possible for GST staff to access the GSTN System and work from home, it has helped us serve the taxpayer better. It has also come in for appreciation from trade and industry. In short, a win-win situation both for the trade and the department....

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Norms on collection of Health Insurance Premium during COVID-19 crisis

Ref: IRDAI/HLT/REG/CIR/096/04/2020 (20/04/2020)

Where the facility of payment of premiums in instalments is offered in respect of any product / products the same shall be offered to all policyholders without any discrimination and policyholders shall be also notified of the applicable conditions....

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Provisioning on interbank exposure of Primary UCBs

RBI/2019-20/222 DOR.(PCB).BPD.Cir.No.11/16.20.000/2019-20 (20/04/2020)

The interbank exposures arising from deposits placed by UCBs with a UCB under AID and their non-performing exposures arising from discounted bills drawn under LCs issued by a UCB under AID shall be fully provided within five years at the rate of 20% annually. Further, the interest receivable on the deposits shall not be recognised as inco...

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Internal ML/TF risk assessment by REs -Master Direction on KYC amended

RBI/2019-20/221 DOR.AML.BC.No.66/14.01.001/2019-20 (20/04/2020)

A new section (5A) has been added to chapter II of the MD on KYC requiring REs to carry out ‘Money Laundering (ML) and Terrorist Financing (TF) Risk Assessment’ exercise periodically to identify, assess and take effective measures to mitigate its money laundering and terrorist financing risk for clients, countries or geographic areas,...

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SEBI measures implemented since 23.03.2020 to continue till 28.05.2020

Press Release No.: 22/2020-SEBI (20/04/2020)

It has been decided by SEBI that the relief measures implemented since March 23, 2020 will continue to be in force till May 28, 2020. The stock exchanges and clearing corporations will be issuing necessary instructions to the market participants in this regard....

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CGST Rule Amended for Calculating amount of Refund – Exporter be Cautious

GST defines Export as Zero-rated Supply. Under Section 16 of the IGST Act, 2017, ‘Zero rated supply’ means any of the following supplies of goods or services or both, namely: a) export of goods or services or both; or b) supply of goods or services or both to a Special Economic Zone developer or a […]...

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Posted Under: Company Law |

Initiative to Boost MSME Sector by Ministry of MSME

Micro and Small Enterprises Facilitation Councils (MSEFCs) have been set up in all States/ UTs to resolve the delayed payments cases by way of conciliation and / or arbitration as per the provisions of the Micro, Small & Medium Enterprises Development Act, 2006....

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Posted Under: Company Law |

OECD develops database to provide insights on Global profiles of MNEs

OECD develops database to provide insights on Global profiles of Multinational Enterprises (MNEs) 1. Background Multinational Enterprises (MNEs) have been at the forefront of changes in the global economy over the last few decades, as trade and investment barriers have been removed and transportation and communication costs have declined....

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Posted Under: Company Law |

Clarification on “Bill to Ship To” model for e-Way Bill

CBIC has issued clarification through press release dated 23.04.2018 for requirement of e-way Bill for Bill To Ship To model for supplies of goods. Prior to this clarification trade & industry was facing a lot of practical challenges and implementation issues which requires a lot of real-time coordination was sought prior to the movement ...

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Posted Under: Company Law |

FDI Rules amended to curb opportunistic takeovers of Indian Companies

Government of India changes FDI Rules to curb opportunistic takeovers of Indian Companies. Change in Foreign Direct Investment (FDI) policy for curbing opportunistic takeovers/acquisitions of Indian companies due to the current COVID-19 pandemic During the ongoing global pandemic of COVID—19, stock markets across the world had crashed. ...

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Posted Under: Company Law |

Extension of Quarterly TDS/TCS statement filing dates

Circular No. NSDL/TIN/2020/006 (20/04/2020)

All the due dates, prescibed or notified under the Income Tax Act which fall during the period from March 20, 2020 to June 29, 2020 have been extended to June 30, 2020....

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IBBI (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations 2020

Notification No. IBBI/2020-21/GN/REG059 (20/04/2020)

These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2020. They shall be deemed to have come into force from the 29th March, 2020....

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IBBI (Insolvency Professionals) (Amendment) Regulations, 2020 notified

Notification No. IBBI/2020-21/GN/REG057 (20/04/2020)

These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2020. They shall be deemed to have come into force from the 28th March, 2020....

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