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With pulsating heart beats and anxiety, when my computer advised me to complete the examination conducted by Insolvency and Bankruptcy Board of India (IBBI) for Insolvency Professional certification purposes on August 9, 2018 at Meerut, I decided to write this article on the role of insolvency professionals with adequate information and a...
Read MoreThis series of articles on THE CODE, looks at the elephant from the different perspectives, to understand how the economy is changing at a deep structural level, beyond the inferno of NPAs raging all around us....
Read MoreAfter the introduction of the Limited Liability Partnership Act, 2008 (LLP Act), it was anticipated that many corporate houses would consider Limited Liability Partnership (LLP) as a vehicle to run their business operations, mainly due to lower administrative compliances and ease of repatriation of profits to its partners. ...
Read MoreLooking at the humongous number of affected people, combined with the pressure from the Industry, the MCA opened a window for redressal in the form of CONDONATION OF DELAY SCHEME, 2018(CODS)....
Read MoreSection 29A of Insolvency and Bankruptcy Code, 2016 is a restrictive provision which impedes any person falling in the negative list from submission of a resolution plan....
Read MoreThe IPAs have responsibility to develop and regulate the profession of IPs. They carry out quasi-legislative, executive and quasi-judicial functions. While they are public utilities and front-line regulators, they must compete with one another in terms of service rendered by their members acting as IPs....
Read MoreLIC to acquire controlling stake of IDBI Bank Cabinet approves dilution of Government shareholding below 50% The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved conveying of no objection to reduction in Government of India shareholding in IDBI Bank Limited to below 50% by dilution. It has also approved acquisitio...
Read MoreArbitration And Conciliation (Amendment) Bill, 2018 is introduced in Lok Sabha on 18th July 2018 to amend the Arbitration and Conciliation Act, 1996 to minimise the need to approach the Courts for appointment of arbitrators with a view to make India a hub of institutional arbitration for both domestic and international arbitration....
Read MoreNon-banking entities are allowed to raise deposits from the public under the provisions of various statutes enacted by the Central Government and the State Governments. However, the regulatory framework for deposit taking activity in the country is not seamless....
Read MoreLok Sabha passes Negotiable Instrument (Amendment) Bill, 2018 a bill further to amend the Negotiable Instruments Act, 1881 by which it has proposed to insert section 143A -Power to direct interim compensation and Section 148-Power of Appellate Court to order payment pending appeal against conviction. Bill No. 281-C of 2017 THE NEGOTIABL...
Read MoreKishan Rao Vs Shankargouda (Supreme Court Of India) - Kishan Rao Vs Shankargouda (Supreme Court Of India) In the present case, the trial court as well as the Appellate Court having found that cheque contained the signatures of the accused and it was given to the appellant to present in the Bank of the presumption under Section 139 was rightly raised wh...
Read MoreMaharashtra State Road Transport Corporation Vs Commissioner of Central Service (Bombay High Court) - Bombay High Court held in the case of Maharashtra State Road Transport Corporation Vs Commissioner of Central Service that While deciding an application for stay of demand, the Appellate Tribunal can only consider the prima facie case of merits. It cannot give a final finding on the merits and dec...
Read MoreNew Delhi Television Limited Vs RBI (Bombay High Court) - We are concerned in this petition with the actions of the RBI and the Enforcement Directorate, both of whom refer to the criminal proceedings launched by the CBI. Those in-charge of their affairs and those in power giving them directions ought to realise that nothing would be achieved if foundation...
Read MoreChhattisgarh Board of Secondary Education Vs Public Information Officer (Chhattisgarh High Court) - Personal information like T.A. bill etc. cannot be directed to be given under the Right to Information Act, 2005 in view of Section 8(1)(j) of the said Act....
Read MoreHemant Sharma & Others Vs. All India Chess Federation (Competition Commission of India) - CCI issues order against All India Chess Federation for abuse of dominant position and imposition of unreasonable vertical restraints on chess players and organisation of chess events; Imposes penalty of Rs. 6.92 lakhs on AICF for the Anti-Competitive conduct....
Read MoreNO. 22 OF 2018 - (11/08/2018) - THE CRIMINAL LAW (AMENDMENT) ACT, 2018- An Act further to amend the Indian Penal Code, Indian Evidence Act, 1872, the Code of Criminal Procedure, 1973 and the Protection of Children from Sexual Offences Act, 2012....
Read MoreCircular No. IBBI/CIRP/016/2018 - (10/08/2018) - The Committee deliberated on who should be on the creditors committee, given the power of the creditors committee to ultimately keep the entity as a going concern or liquidate it. The Committee reasoned that members of the creditors committee have to be creditors both with the capability to assess v...
Read MoreNo. 21 of 2018 - (09/08/2018) - (1) This Act may be called the Requisitioning and Acquisition of Immovable Property (Amendment) Act, 2018. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint....
Read MoreNO. 20 OF 2018 - (02/08/2018) - This Act may be called the Negotiable Instruments (Amendment) Act, 2018. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint....
Read MoreNO. 17 OF 2018 - (31/07/2018) - Govt notifies Fugitive Economic Offenders Act, 2018. It shall be deemed to have come into force on the 21st day of April, 2018. The provisions of this Act shall apply to any individual who is, or becomes, a fugitive economic offender on or after the date of coming into force of this Act....
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NO. 22 OF 2018 - (11/08/2018) -
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.
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