With the objective of promoting ease of doing business in India, the Reserve Bank of India (RBI) has simplified and liberalised the erstwhile framework on external commercial borrowings/foreign currency denominated loans and the rupee denominated loans by notifying the Foreign Exchange Management (Borrowing and Lending) Regulations, 2018 (ECB Regulations) issued vide Notification No. FEMA 3 (R)/2018-RB […]
The claim would get extinguished once the Resolution Plan was accepted by the National Company Law Tribunal [Ref: Sirpur Paper Mills Limited vs. I.K. Merchants Pvt. Ltd. dated 07th May, 2021] We are regularly seeing lots of changes by way of amendments, ordinances and judgments in the Insolvency and Bankruptcy Code, 2016 (hereinafter the ‘IBC’) in […]
I hope that you all are aware about the Ordinance i.e. Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 which has been come into effective at once, promulgated by President on 4th April, 2021.This Ordinance amends the Insolvency and Bankruptcy Code 2016 (‘IBC or Code’) to allow the Central Government to notify such pre-packaged process for […]
Relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013 The Central Government in exercise of its powers under Section 460 read with Section 403 of the Act and the Companies (Registration Offices and Fees) Rules, 2014 (Fees Rules) has decided, vide MCA General Circular No. 07/2021 […]
No additional fees upto 31st July, 2021 on forms under Companies /LLP Act due for filing during 1st April, 2021 to 31st May, 2021 The Ministry of Corporate Affairs (‘MCA’) has received request from stakeholders for relaxation on levy of additional fees for filing of various forms under the Companies Act, 2013 /LLP Act, 2008/ […]
Gap between two consecutive Board Meetings may extend to 180 days for Quarter – April to June 2021 and Quarter – July to September 2021, instead of 120 days In view of the difficulties arising due to resurgence of COVID-19 pandemic and request received from stakeholders, the Ministry of Corporate Affairs (“MCA”) vide its General […]
Belated Return and Revised Return for the Assessment Year 2020-21 may be filed on or before 31st May, 2021 In view of the adverse circumstances arising due to the severe Covid-19 pandemic, the CBDT, in exercise of its powers under Section 119 of the Income Tax Act, 1961 (‘the IT Act’), has issued a Circular […]
[Miss. Application No. 665/2021 in Suo motu Writ Petition (Civil) No. 3 of 2020, In Re: Cognizance for Extension of Limitation] The Hon’ble Supreme Court on 27th March, 2021 decided to extend the period of limitation of filing cases in various legal fora with effect from 14.03.2021 until further orders in view of hardships faced […]
[Ref: D.Y. Beathel Enterprises Vs State Tax Officer (Madras High Court order dated 24th February, 2021] A writ petition is filed before Madurai Bench of Madras High Court under Article 226 of the Constitution of India, to quash the order dated 29.10.2020 as illegal, arbitrary, wholly without jurisdiction and in violation of the principles of […]
Role of Resolution Professional in Committee of Creditors of Essar Steel India Limited Vs. Satish Kumar Gupta & Ors In the recent judgment dated 15th November, 2019 passed by the Hon’ble Supreme Court in the matter of Committee of Creditors of Essar Steel India Limited Vs. Satish Kumar Gupta & Ors. [Civil Appeal No. 8766-67/2019 and […]
