Corporate Law

Business Responsibility Report

Business entities are generally used resources of society in their development. They are utilising various resources such as human, infrastructure, minerals, water, environmental etc., in their business activities. They are running their business and trade with help of social as well as governmental support. The common society provides th...

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Insolvency and Bankruptcy (Amendment) Ordinance, 2019: A Critique

Since its inception, the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “the Code”) has ushered in a new financial culture, which is responsive and vibrant. The Code has yielded positive outcomes by way of bringing in a systematic and institutionalized framework in restructuring of stressed assets from the debt-ridde...

Read More

Can a settlement come in record if NCLT bench have passed CIRP order?

The Insolvency and Bankruptcy Code, 2016 (Code) is a Codification of Sections of various previous Acts to deal with corporate insolvency and bankruptcy. Hailed as a comprehensive economic reform, IBC was hailed as the fastest and most effective tool to recover bad debt....

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Coverage of Government Companies under IBC

Whether a government company can be subjected to insolvency under IBC The NCLT Mumbai Bench has, in the case of Harsh Pinge Vs Hindustan Antibiotics Limited, dismissed the application by operational Creditor under Section 9 of the IBC, on the ground that the Corporate Debtor i.e. Hindustan Antiboitics Ltd being a Government Company, is a...

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Conflict of Interest under Insolvency and Bankruptcy Code, 2016

Conflict of interest (COI) occurs when an entity is in a position to exploit its official or personal capacity in some way for personal or corporate benefit. Few instances in which Conflict of interest arises under Insolvency and Bankruptcy Code, 2016 : 1. A prime example where conflict of interest can arise is between the […]...

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MCA invite Comments on Competition (Amendment) Bill, 2020

Public comments are therefore hereby solicited on the draft Competition (Amendment) Bill, 2020. Copy of the CLRC Report, Competition Act, 2002 as well as Draft Competition (Amendment) Bill may be accessed at the web link mentioned below and comments, if any, may be submitted online therein by end of business hours on 06th March, 2020 posi...

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FASTag to be available free of charge for 15 days

In order to further increase digital collection of user fee via FASTag at NH fee plazas, National Highways Authority of India (NHAI) has decided to waive off the FASTag cost of Rs.100/- for NHAI FASTag between 15th and 29th February, 2020. Road users can visit any authorised physical point-of-sale locations with a valid Registration Certi...

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Constitution (Amendment) Bill 2020- Small family definition to be of two children

The Constitution (Amendment) Bill, 2020 (insertion of new article 47A) was introduced by Shri Anil Desai as Private Members’ Bill in Rajya Sabha on  7th February 2020. It says that The State shall promote small family norms by offering incentives in taxes, employment, education etc. to its people who keep their family limited to two [&...

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Implementation of One Nation One Ration Card System

Under PDS reforms, a scheme on “Integrated Management of Public Distribution System (IM-PDS)” is being implemented w.e.f. April 2018 in all States/UTs including Tamil Nadu. The main objective of the scheme is to introduce nation-wide portability of ration card holders under National Food Security Act, 2013 (NFSA), through ‘One N...

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Advisories on Corona Virus

Article compiles Guidelines on Clinical management of severe acute respiratory illness (SARI) in suspect/confirmed novel Coronavirus (nCoV) cases, Updated Travel advisory for travelers visiting China (to replace previous travel advisory), Guidance on Surveillance for human infection with 2019-nCoV, Guidelines for Infection Prevention and ...

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Public functionary cannot be permitted to act like a dictator: HC

Sant Prasad Seth Vs State of U.P. (Allahabad High Court) - Sant Prasad Seth Vs State of U.P. (Allahabad High Court) Withholding of post death dues for years together is not only illegal and arbitrary but a sin if not an offence since no law has declared so. The officials, who are still in service and are instrumental in such delay causing harassment must ho...

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Inquire against officers liable for inordinate delay in Appeal Filing: SC

Administrator Jammu Municipality and Anr. Vs Swarn Theatre and Ors. (Supreme Court) - The applications for condonation of delay in filing and refiling will be dismissed and then direct the State administration to hold an inquiry into the aspect as to who is responsible for such inordinate delay and take suitable action against the officers concerned....

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NCLAT allows Liquidator to hand over records, control etc. to Liberty House Group

Liberty House Group Pte. Ltd. Vs State Bank of India & Ors. (NCLAT Delhi) - Liberty House Group Pte. Ltd. Vs State Bank of India & Ors. (NCLAT Delhi) Mr. Virendra Ganda, learned Senior Counsel for the Appellant(s) submits that the amount in terms of the earlier order dated 21st January, 2020 has been paid. Mr. Joy Saha, learned Senior Counsel appearing on behalf of ‘C...

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Can Value of Resolution Plan be Lower than Liquidation Value? : SC Resolves

Maharashtra Seamless Limited v. Padmanabhan Venkatesh & Ors (Supreme Court) - Issue 1: Whether the scheme of the Code contemplates that the sum forming part of the resolution plan should match the liquidation value or not? Issue 2: Whether Section 12-A is the applicable route through which a successful Resolution Applicant can retreat?...

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Section 14(1A) of SARFAESI not bars appointment of advocates as receivers

Rahul Chaudhary Vs Andhra Bank and Ors. (Delhi High Court) - The insertion of sub-section (1A) in Section 14 of SARFAESI Act, the only change that has been brought about is that the District Magistrate/CMM has now the discretion to appoint even their subordinate officers as receivers. Pertinently, sub-section (1A) of Section 14 does not bar the appointment of...

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Committee to implement proposed Cross Border Insolvency provisions

Order No. 30/27/2018 - (21/02/2020) - Constitution of a committee for recommending Rules & Regulatory framework for smooth implementation of proposed Cross Border Insolvency provisions in the Insolvency & Bankruptcy Code, 2016...

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Employees Pension (Amendment) Scheme, 2020

Notification No. G.S.R.132 (E). - (20/02/2020) - Employees' Pension (Amendment) Scheme, 2020- 12B. Restoration to normal pension in cases of grant of commutation. – The normal pension in respect of those members who availed the benefit of commutation of pension under the erstwhile paragraph 12A of this Scheme, on or before the 25th day of Septem...

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Disruption of supply chain due to spread of Corona Virus in China is natural calamitiy

No.F.18/4/2020-PPD - (19/02/2020) - To address the issue of contractors going in default of contract obligations on account of delays in input shipments from China on account of  Coronavirus. Dept. of Expenditure vide its O.M. dated 19.2.2020 has advised Ministries, disruption of supply chain due to spread of Coronavirus in China or ...

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Indian Boiler (Amendment) Regulations, 2020

Notification No. G.S.R. 123(E) - (17/02/2020) - (1) These regulations may be called the Indian Boiler (Amendment) Regulations, 2020. (2) They shall come into force on the date of their final publication in the Official Gazette....

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Flat Transparent Sheet Glass (Quality Control) Order, 2020

Order No. S.O. 738(E) - (14/02/2020) - (1) This Order may be called the Flat Transparent Sheet Glass (Quality Control) Order, 2020. (2) It shall come into force with effect from 17.08.2020....

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Recent Posts in "Corporate Law"

Business Responsibility Report

Business entities are generally used resources of society in their development. They are utilising various resources such as human, infrastructure, minerals, water, environmental etc., in their business activities. They are running their business and trade with help of social as well as governmental support. The common society provides th...

Read More
Posted Under: Corporate Law |

Section 138 Prosecution not hit by bar created by Section 69(2) of Partnership Act

Narendra Vs Balbirsingh (Bombay High Court)

The prosecution of an accused under Section 138 of the Negotiable Instruments Act, 1888, is not hit by the bar created by sub-section (2) of Section 69 of the Indian Partnership Act, 1932....

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Production of Books not Relevant in Cheque Bounce Cases | Section 138 | NI Act

D. K. Chandel Vs Wockhardt Ltd. & Anr. (Supreme Court)

D. K. Chandel Vs Wockhardt Ltd. & Anr. (Supreme Court) The Supreme Court has observed that the production of the account books/cash book may not be relevant in a criminal case filed under Section 138 of the Negotiable Instruments Act. As held by the Trial Court as well as by the High Court that the […]...

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Landlord not precluded from making application for determination of fair rent during currency of contractual tenancy: SC

N. Motilal & Ors. Vs Faisal Bin Ali & Anr. (Supreme Court)

N. Motilal & Ors. Vs. Faisal Bin Ali (Supreme Court) The moot question to be answered in this appeal is as to whether during currency of contractual tenancy i.e. during the currency of agreed rent between the landlord and the tenant whether landlord is precluded from making an application for determination of fair rent. Section [&hell...

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IBC: Immovable property Lease rent dues are not Operational Debt

Mr. M. Ravindranath Reddy Vs Mr G. Kishan & Ors. (NCLAT)

Mr. M. Ravindranath Reddy Vs Mr G. Kishan & Ors. (NCLAT) Whether a landlord by providing lease, will be treated as providing services to the corporate debtor, and hence, an operational creditor within the meaning of Section 5(20) read with Section 5(21) of the ‘Insolvency and Bankruptcy Code, 2016? For an amount to be classified...

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Posted Under: Corporate Law |

MCA invite Comments on Competition (Amendment) Bill, 2020

Public comments are therefore hereby solicited on the draft Competition (Amendment) Bill, 2020. Copy of the CLRC Report, Competition Act, 2002 as well as Draft Competition (Amendment) Bill may be accessed at the web link mentioned below and comments, if any, may be submitted online therein by end of business hours on 06th March, 2020 posi...

Read More
Posted Under: Corporate Law |

Insolvency and Bankruptcy (Amendment) Ordinance, 2019: A Critique

Since its inception, the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “the Code”) has ushered in a new financial culture, which is responsive and vibrant. The Code has yielded positive outcomes by way of bringing in a systematic and institutionalized framework in restructuring of stressed assets from the debt-ridde...

Read More
Posted Under: Corporate Law |

Committee to implement proposed Cross Border Insolvency provisions

Order No. 30/27/2018 (21/02/2020)

Constitution of a committee for recommending Rules & Regulatory framework for smooth implementation of proposed Cross Border Insolvency provisions in the Insolvency & Bankruptcy Code, 2016...

Read More

Can a settlement come in record if NCLT bench have passed CIRP order?

The Insolvency and Bankruptcy Code, 2016 (Code) is a Codification of Sections of various previous Acts to deal with corporate insolvency and bankruptcy. Hailed as a comprehensive economic reform, IBC was hailed as the fastest and most effective tool to recover bad debt....

Read More
Posted Under: Corporate Law |

Public functionary cannot be permitted to act like a dictator: HC

Sant Prasad Seth Vs State of U.P. (Allahabad High Court)

Sant Prasad Seth Vs State of U.P. (Allahabad High Court) Withholding of post death dues for years together is not only illegal and arbitrary but a sin if not an offence since no law has declared so. The officials, who are still in service and are instrumental in such delay causing harassment must however feel […]...

Read More

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.