The application seeking approval for the proposed change in control of the Sponsor and/or Manager of the AIF under Regulation 20(13) of AIF Regulations shall be filed with SEBI prior to filing the application with the NCLT;
MCA notifies Companies (Indian Accounting Standards) Amendment Rules, 2022 vide Notification No. G.S.R 255(E) Dated: 23rd March, 2022 and further amended Companies (Indian Accounting Standards) Rules, 2015. MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 23rd March, 2022 G.S.R 255(E).—In exercise of the powers conferred by section 133 read with section 469 of the Companies […]
Central Bureau of Investigation has arrested an Assistant Superintendent of Chennai Port Trust (CPT), Chennai in an on-going investigation of a case related to an alleged Bank fraud in which fixed deposits of Chennai Port Trust (CPT) were fore-closed/pre-closed fraudulently.
84.61% of total defrauded funds attached/seized under Prevention of Money Laundering Act, 2002 (PMLA) and Fugitive Economic Offenders Act, 2018 (FEOA) and Consortium of banks realizes Rs. 7,975.27 crore by sale of assets. Prevention of Money Laundering Act, 2002 (PMLA) and Fugitive Economic Offenders Act, 2018 (FEOA) provide that the Special Court trying the offence […]
As informed by the National Credit Guarantee Trustee Company Limited, the agency which operates the Emergency Credit Line Guarantee Scheme (ECLGS), as on 11.3.2022, a total of 117.87 lakh businesses have been supported with 100% guaranteed collateral free loans under ECLGS of which about 95.21% were MSMEs. This was stated by Union Minister of State for […]
The Transaction Advisor appointed for the privatisation of BPCL had informed that multiple Expressions of Interest (EoIs) had been received for privatisation of BPCL, and the transaction is in second stage of the process. This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question […]
More than 4,000 cases admitted for corporate insolvency resolution process (CIRP) since FY 2016 and out of these 359 cases resolved with realisable value of more than Rs 2 lakh crore for creditors. As per the information provided by Insolvency and Bankruptcy Board of India [IBBI, the Regulator under Insolvency and Bankruptcy Code, 2016 (IBC)], the […]
Central Government orders and assigns to SFIO, investigation cases involving many companies where alleged fraudulent activities by corporates are reported which includes cases of misappropriation of funds by the promoters / top management and cheating the lenders.
As per the information provided by IBBI, in the years 2020-21 and 2021-22 (upto 31st December, 2021), 538 and 522 cases, respectively, have been admitted into the corporate insolvency resolution process (CIRP)
On receipt of application for revocation of cancellation of registration, the proper officer shall pay a visit to the POB of the taxpayer in order to ensure that the taxpayer is in genuine business from his premises. This will ensure that the revocation is not done in the ease of non-existent / non-genuine tax payer.
