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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 More1. 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 MoreArticle 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 MoreThe 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 MoreThe 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 MoreReport 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 ...
Read MoreCompetition 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...
Read MoreThe 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...
Read More(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....
Read MoreCompetition 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’), ...
Read MoreCommittee 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...
Read MorePioneer 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...
Read MoreSSMP 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....
Read MoreSanghvi 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...
Read MoreIn 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?...
Read MoreNotification 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...
Read MoreNotification 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 ...
Read MoreNA - (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...
Read MoreCircular 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....
Read MoreF.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...
Read MoreCommittee of Creditors of Amtek Auto Ltd. through Corporation Bank. VS Dinkar T. Venkatasubramanian & Ors. (NCLAT, Delhi) -
Notification No. S.O. 2953(E) - (16/08/2019) -
Notification No. S.O. 2957(E) - (16/08/2019) -
