"Chartered Accountant in Practice at Udaipur. Have worked ealier in Industry in India and Singapore.,"
Explore the complexities of Section 194R of the Income-Tax Act, 1961, with guidelines from CBDTs circular No.12 of 2022. Learn about TDS provisions, implications for businesses, and potential challenges, questioning the alignment with the Finance Bill 2022. Review real-world scenarios on out-of-pocket expenses and dealer conferences, highlighting concerns and suggesting a need for a comprehensive review by the government. Stay informed about the effective date and potential impact on the Ease of Doing Business.
Lalit Kumar Jain Vs Union of India (Supreme Court of India) A Supreme Court bench held that approval of the resolution plan for revival of sick companies under the Insolvency and Bankruptcy Code 2016 does not discharge personal guarantors of their liability to pay back the banks or financial institutions (FIs) as they are bound […]
If you read the opening paragraph and Section 238 of Insolvency and Bankruptcy Code 2016 it seems like all cases under the Code will be very easily resolved and all everything will happen in a time bound manner.
The Supreme Court has granted the Resolution Professional of Amtek Auto 21 days to invite fresh bids. This need to invite fresh bids has been necessitated because of backtracking of Liberty House, a London based Business House which amongst other Resolution Applicants had submitted its resolution plan where it offered Rs.4025 crore, which included an […]
One of the methods for resolving the insolvency of individuals is The fresh start process. This is applicable for individuals and partnership firms. These provisions though not notified yet have been framed to give debtors with comparatively smaller debts the chance to discharge their debts, and start afresh without any liabilities
Recently the Delhi bench of National Company Law Appellate Tribunal (NCLAT) has passed an order for liquidation in the case of Amtek Auto Limited. The two-judge Bench headed by Justice S J Mukhopadhya, stated in its order ‘As we have noted that more than 270 days have been completed much earlier and no case is made to exclude any period, we hold that adjudicating authority has no other option but to pass order of liquidation.’
