Corporate Law

New Cheque Bounce Provisions give MSME’s more power in Cheque Bounce Cases

An Amendment Act was brought by the Government to meet reducing the undue delay in the cases of dishonor of cheques and to provide payment of interim compensation to the complainants. The MSME’s in particular have been representing that due to delay tactics, easy filing of appeals and obtaining stay on proceedings, the very purpose of s...

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Corporate Social Responsibility | Companies Act 2013 | Section 135

1.  Section 135 of the Companies Act, 2013 pertaining to Corporate Social Responsibility (CSR) is applicable to all Companies during the immediately preceding financial year having: Net profit before tax of Rs. 5 Crore or more or Networth of Rs. 500 Crore or more or Turnover of Rs. 1,000 Crore or more 2. In this […]...

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25 Supreme Court Judgments on Insolvency and Bankruptcy Code 2016

Article summarises 25 Landmark Supreme Court Judgments On Insolvency And Bankruptcy Code 2016 SUPREME COURT JUDGMENTS ON INSOLVENCY AND BANKRUPTCY CODE 2016 Sr No Date of Judgment Name Of The Parties Citation/Dt  of Judgment Ratio   1 21-02-2017 Bank Of New York Mellon London Branch. Vs Zenith Infotech Limited AIR2017SC1735   I...

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FAQs on Insolvency and Bankruptcy Code 2016

The Insolvency and Bankruptcy Code, 2016 was enacted with a purpose to consolidate and amend the laws relating to reorganisation and insolvency resolution of corporate persons, partnership firms and individuals and align Indian law at par with the best practices being followed Internationally....

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SC Orders Refund to Home buyer for prolonged delay in possession

The Hon’ble Supreme Court (SC) in the case of Kolkata West International City Pvt. Ltd. v. Devasis Rudra passed a judgment stating that the homebuyers are allowed to claim refund from the defaulting builders/developers in case there is a prolonged delay in delivery of possession of homes. In the said case, the builder had failed to [&h...

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Key recommendations of Competition Law Review Committee report

Report of the Competition Law Review Committee submitted to Union Finance and Corporate Affairs Minister Key recommendations include introduction of a ‘Green Channel’ for combination notifications to enable fast-paced regulatory approvals of mergers and acquisitions Shri Injeti Srinivas, Secretary (Corporate Affairs), today presented ...

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CCI finds conduct & practice of JP Associates in contravention of Law

Competition Commission of India finds the conduct and practice of Jaiprakash Associates Limited to be in contravention of Competition Law The Competition Commission of India (CCI) has found Jaiprakash Associates Limited (JAL) to be in contravention of the provisions of Section 4 of the Competition Act, 2002 (Act) for abuse of dominant pos...

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Consumer Protection Act to be more holistic & stringent to protect consumer interest

The Consumer Protection Act, 2019 to be more holistic and stringent to protect interest of consumers: Shri Ramvilas Paswan The Consumer Protection Act 2019 will be more holistic and  stringent once the rules are framed to protect the interest of the Consumer ,stating this at a press conference today Union Minister for Consumer Affairs ,F...

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IBBI prescribes CPE requirement for IP Professionals

(a) An IP shall undertake CPE in compliance with these Guidelines to keep his registration valid. (b) Authorisation for assignment shall not be issued or renewed to an IP who fails to comply with these Guidelines. (c) These Guidelines shall not apply to IPs who have completed the age of 65 years....

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CCI imposes penalty on SAAR IT Resources Private Limited and others

Competition Commission of India (‘Commission’) after detailed inquiry has found SAAR IT Resources Private Limited, CADD Systems and Services Private Limited and Pentacle Consultants (I) Private Limited  to be in contravention of the provisions of Section 3(3)(d) read with Section 3(1) of the Competition Act, 2002 (‘Act’),  ...

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Liquidation order of Amtek Auto Limited- Need to review provisions of IBC 2016

Committee of Creditors of Amtek Auto Ltd. through Corporation Bank. VS Dinkar T. Venkatasubramanian & Ors. (NCLAT, Delhi) - 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...

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Homebuyers’ Rights as Financial Creditors under IBC upheld by SC

Pioneer Urban Land and Infrastructure Limited & Anr. Vs. Union of India & Ors. (Suprme Court) - Pioneer Urban Land and Infrastructure Limited & Anr. Vs. Union of India & Ors. (Suprme Court) Homebuyers’ Rights as Financial Creditors under IBC upheld by Supreme Court A Major Win for Homebuyers! The August 9 verdict of the Supreme Court, validating the amendment in the Insolvency and Ba...

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Can Adjudication of Counter Claim be stayed in Purview of Moratorium Declared on Corporate Debtor?

SSMP Industries Ltd Vs Perkan Foods Processors Pvt Ltd (Delhi High Court) - The Court held that Plaintiff’s and the Defendant’s claim needs to be adjudicated comprehensively by the same forum. Till the defence is adjudicated, there is no threat to the assets of the Plaintiff and the continuation of the counter claim would not adversely impact its assets....

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IBC: Claim not barred by limitation if appellant approaches appropriate forum in time

Sanghvi Movers Ltd. Vs. M/s. Tech Sharp Engineers Pvt. Ltd. (NCLAT) - Sanghvi Movers Ltd. Vs. M/s. Tech Sharp Engineers Pvt. Ltd. (NCLAT) If the Appellant had Approached Appropriate Forum for Appropriate Remedy in Time With Continuous Cause of Action, Then The Claim is Not Barred by Limitation FACTS In this case a winding up petition was filed before the Madras High C...

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Section 144 of CrPC in Jammu & Kashmir: What is Section 144

In India we often hear in news about the applicability of Section 144 at different parts of the country in case of riots or strikes or vase public processions. When and why the government tends to invoke this section? Does it infringe any fundamental rights? Who has the power to apply section 144?...

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IBC (Amendment) Act, 2019 applicable from 16, August, 2019

Notification No. S.O. 2953(E) - (16/08/2019) - MCA notifies that  Insolvency and Bankruptcy Code (Amendment) Act, 2019 comes into force from 16, August, 2019. GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS New Delhi, the 16, August, 2019. NOTIFICATION S.O. 2953(E).- In exercise of the powers conferred by sub-section (2) of section 1 of the I...

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Protection of Children from Sexual Offences (Amendment) Act, 2019 applicable from 16.08.2019

Notification No. S.O. 2957(E) - (16/08/2019) - Central Government hereby appoints the 16th August, 2019 as the date on which the Protection of Children from Sexual Offences (Amendment) Act, 2019 shall come into force. MINISTRY OF WOMEN AND CHILD DEVELOPMENT (CW-I Section) NOTIFICATION New Delhi, the 16th August, 2019 S.O. 2957(E).—In exercise ...

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CCI penalises Electric Power Steering Systems suppliers cartel for Price-Fixing

NA - (14/08/2019) - The case was initiated on the basis of an application received by the CCI under Section 46 of the Competition Act, 2002 (the ‘Act’) read with Competition Commission of India (Lesser Penalty) Regulations, 2009 (‘LPR’), from NSK/ RNSS. Thereafter, during the pendency of investigation, JTEKT/ J...

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IBBI issues Forms IP 1 & CIRP 1 to CIRP 6 to be filed by IP, IRP & RP

Circular No. IBBI/CIRP/023/2019 - (14/08/2019) - Filing of Forms for the purpose of monitoring corporate insolvency resolution processes and performance of insolvency professionals under the Insolvency and Bankruptcy Code, 2016 and the regulations made thereunder....

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CCI (Procedure in regard to transaction of business relating to combinations) Amendment Regulations, 2019

F.No. CCI/CD/Amend/Comb. Regl./2019 - (13/08/2019) - THE COMPETITION COMMISSION OF INDIA NOTIFICATION New Delhi, the 13th August, 2019 The Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Amendment Regulations, 2019 F.No. CCI/CD/Amend/Comb. Regl./2019.—In exercise of the powers conferred b...

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Recent Posts in "Corporate Law"

Liquidation order of Amtek Auto Limited- Need to review provisions of IBC 2016

Committee of Creditors of Amtek Auto Ltd. through Corporation Bank. VS Dinkar T. Venkatasubramanian & Ors. (NCLAT, Delhi)

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, ...

Read More
Posted Under: Corporate Law | |

New Cheque Bounce Provisions give MSME’s more power in Cheque Bounce Cases

An Amendment Act was brought by the Government to meet reducing the undue delay in the cases of dishonor of cheques and to provide payment of interim compensation to the complainants. The MSME’s in particular have been representing that due to delay tactics, easy filing of appeals and obtaining stay on proceedings, the very purpose of s...

Read More
Posted Under: Corporate Law |

IBC (Amendment) Act, 2019 applicable from 16, August, 2019

Notification No. S.O. 2953(E) (16/08/2019)

MCA notifies that  Insolvency and Bankruptcy Code (Amendment) Act, 2019 comes into force from 16, August, 2019. GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS New Delhi, the 16, August, 2019. NOTIFICATION S.O. 2953(E).- In exercise of the powers conferred by sub-section (2) of section 1 of the Insolvency and Bankruptcy Code (Amendment...

Read More

Protection of Children from Sexual Offences (Amendment) Act, 2019 applicable from 16.08.2019

Notification No. S.O. 2957(E) (16/08/2019)

Central Government hereby appoints the 16th August, 2019 as the date on which the Protection of Children from Sexual Offences (Amendment) Act, 2019 shall come into force. MINISTRY OF WOMEN AND CHILD DEVELOPMENT (CW-I Section) NOTIFICATION New Delhi, the 16th August, 2019 S.O. 2957(E).—In exercise of the Powers conferred by sub-section (...

Read More

Corporate Social Responsibility | Companies Act 2013 | Section 135

1.  Section 135 of the Companies Act, 2013 pertaining to Corporate Social Responsibility (CSR) is applicable to all Companies during the immediately preceding financial year having: Net profit before tax of Rs. 5 Crore or more or Networth of Rs. 500 Crore or more or Turnover of Rs. 1,000 Crore or more 2. In this […]...

Read More
Posted Under: Corporate Law |

25 Supreme Court Judgments on Insolvency and Bankruptcy Code 2016

Article summarises 25 Landmark Supreme Court Judgments On Insolvency And Bankruptcy Code 2016 SUPREME COURT JUDGMENTS ON INSOLVENCY AND BANKRUPTCY CODE 2016 Sr No Date of Judgment Name Of The Parties Citation/Dt  of Judgment Ratio   1 21-02-2017 Bank Of New York Mellon London Branch. Vs Zenith Infotech Limited AIR2017SC1735   I...

Read More
Posted Under: Corporate Law |

FAQs on Insolvency and Bankruptcy Code 2016

The Insolvency and Bankruptcy Code, 2016 was enacted with a purpose to consolidate and amend the laws relating to reorganisation and insolvency resolution of corporate persons, partnership firms and individuals and align Indian law at par with the best practices being followed Internationally....

Read More
Posted Under: Corporate Law |

SC Orders Refund to Home buyer for prolonged delay in possession

The Hon’ble Supreme Court (SC) in the case of Kolkata West International City Pvt. Ltd. v. Devasis Rudra passed a judgment stating that the homebuyers are allowed to claim refund from the defaulting builders/developers in case there is a prolonged delay in delivery of possession of homes. In the said case, the builder had failed to [&h...

Read More
Posted Under: Corporate Law |

Gandhi and Corporate Social Responsibility: Challenging Aspects

After independence struggle when the industrialists were pressurized to show their dedication towards the benefit of the society. Mahatma Gandhi urged to the powerful industrialists to share their wealth for the benefit of underprivileged section of the society....

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Posted Under: Corporate Law |

Analysis of Pioneer Judgment on constitutional validity of status of allottees as financial creditors

Judgement  dated 9th August, 2019 of the Hon’ble Supreme Court of India in the matter of Pioneer Urban Land and Infrastructure Limited and Anr. Vs. Union of India & Ors. WP (C) No. 43/2019 and other petitions. While dismissing the various petitions filed by builders and upholding the constitutional validity of status of allottees ...

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Posted Under: Corporate Law |

Corporate Law News

Corporate law deals with the operations and formation of corporations and is related to contract and other commercial law. Corporations are legal entities which are created through the incorporation laws of the state, the corporation is a legal and a distinct person which can sue and can be sued, separate from the stockholders. Until a corporation formally dissolves, it has a perpetual life; the demise of its stockholders or officials does not amend the structure of the corporation. Creation, operation, and their dissolution are governed by several laws such as the Company Law, Insolvency and the Bankruptcy law, Real Estate law, Gratuity Act, Minimum wages Act, Negotiable Instrument Act, Essential Commodities, SRFAESI Act, Competition Act, FDI Regulations etc. At Taxguru, we provide you the latest corporate law news and corporate law articles. Learn about all the important developments in the corporate laws with our extensive coverage of the latest news on corporate law. Our group of expert law professionals provides a cohesive and comprehensive understanding of all the Indian corporate and other allied laws. At Taxguru, we cover all the aspects of corporate law and all the major laws and regulations as mentioned above. We regularly post blogs and articles on corporate law for the benefit of our viewers. Keep a track of all the significant notifications and updates on corporate law with us. Get to know more on the corporate law here at Taxguru.