Corporate Law

FASTag – Electronic Toll Collection

FASTag is a digital system which has been developed by the National Payments Corporation of India (NPCI). It is based on National Electronic Toll Collection (NETC) programme. Due to the recent mandatory implementation, the word ‘FASTag’ has become more familiar within the general public at large. Implementation of ‘FASTag’ is a hu...

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Benefits of Compulsory Insurance/Approved Gratuity Trust for Gratuity Benefits of Employees for Companies with Employee Strength 10 or More

This article is attempt to give more clarity about the Gratuity Benefits, Factors increasing the quantum of Gratuity Benefits Exponentially and Benefits of Compulsory Insurance/Approved Gratuity Trust for Gratuity Benefits of Employees for Companies with Employee Strength 10 or More...

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6 Steps for IEPF refund

Investor Education and Protection Fund or IEPF is a fund which was established under the guidance of SEBI (Securities & Exchange Board of India) and MCA (Ministry of Corporate Affairs). This government fund has been enumerated under Section 205C of Companies Act, 1956.  The website was set up to promote “investors’ awareness and ...

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All about Legal Metrology Act 2009

Legal metrology” means that part of metrology which treats units of weighment and measurement, methods of weighment and measurement and weighing and measuring instruments, in relation to the mandatory technical and legal requirements which have the objects of ensuring public guarantee from the point of view of security and accuracy of t...

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Brief Review of DOT OSP License

OSP stands for Other Service Providers referring to the service provided in the Telecommunication Industry which uses telecom resources. It involves BPO/call centers, e-commerce, telebanking, telemedicine,-education, and other IT enabled services. Department of Telecommunication under the New Telecom Policy (NTP) 1999 made it compulsory f...

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MOS Finance: DRI must employ new-age technology to fight smuggling networks

Ministry of Finance MOS Finance: DRI must employ new-age technology to fight smuggling networks Posted On: 04 DEC 2019 Shri Anurag Thakur, Minister of State for Finance & Corporate Affairs, said that sharing information, using data analytics and usage of non-intrusive technologies should be harnessed to effectively battle the modus op...

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18,782 cases filed under Insolvency & Bankruptcy Code

Ministry of Corporate Affairs 18,782 cases filed under Insolvency & Bankruptcy Code Posted On: 03 DEC 2019 4:20PM by PIB Delhi As on 30th June, 2019, a total of 18,782 cases have been filed under Insolvency and Bankruptcy Code (IBC), 2016, of which 2,173 cases have been admitted under IBC. Out of 2,173 admitted cases, 1,274 […...

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Bill to Ban use of Electronic Cigarettes Introduced in Lok Sabha

http://164.100.47.4/BillsTexts/LSBillTexts/PassedLoksabha/342-C_2019_LS_Eng.pdf...

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IRDAI Exposure Draft – Revisiting product structure for Motor Own Damage

Currently, the wordings, terms and conditions in respect of the basic policy for Motor Own Damage cover are driven by the erstwhile India Motor Tariff, 2000. However, insurers have been permitted to sell add-ons to the basic cover within the framework provided under the extant Product Filing Guidelines for General Insurance....

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Several measures taken to ensure timely payments to MSMEs

Union Government is aware that MSMEs are facing challenges in getting due payments on time from large corporations. In order to ensure timely payments and to prevent their accounts from being treated as Non-Performing Assets (NPAs), Government has taken following steps:...

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Promoter not eligible to file application for Compromise and Arrangement, while he is ineligible U/s. 29A of I&B Code to submit a ‘Resolution Plan’

Jindal Steel and Power Limited Vs Arun Kumar Jagatramka (National Company Law Appellate Tribunal Delhi) - Promoter, if ineligible under Section 29A cannot make an application for Compromise and Arrangement for taking back the immovable and movable property or actionable claims of the ‘Corporate Debtor’....

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Single member cannot pass order on matter heard by two Members: NCLAT

Raj Singh Gehlot, Director of Ambience Pvt. Ltd. Vs Vistra ITCL (India) Ltd. & Anr.(NCLAT, Delhi) - The order of ‘admission’ is challenged on the ground that the matter having been heard by two Hon’ble Members and the final order could not have been passed by Hon’ble Member (Judicial)....

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Life tax payable on Invoice Value of Vehicle & not on ex Showroom price

M/s Millennium Infra & Reality Projects Pvt. Ltd. Vs State of Telangana (Telangana High Court) - State cannot be allowed to levy life tax on the ex-showroom price shown in the price list, when it is not the actual cost of the vehicle and the life tax has to be levied on the actual cost of the vehicle as paid by the purchaser of the vehicle which can be reflected from the invoice....

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HC found 41 questions/answers out of 100 wrongly framed

Kumar Saurav Vs State of Chhattisgarh (Chhattisgarh  High Court) - Kumar Saurav Vs State of Chhattisgarh (Chhattisgarh  High Court) Out of 100 questions, as much as 41 questions/answers have wrongly been framed. Re-examination ordered. Carelessness will always have a price. Considering the degree and percentage of defects in the question papers which according to ...

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SC sets aside NCLAT order in Essar Steel Insolvency case, ArcelorMittal resolution allowed to continue

Committee of Creditors of Essar Steel India Limited Vs Satish Kumar Gupta & Ors. (Supreme Court) - The resolution plan submitted by ArcelorMittal on 02.04.2018 proposed an upfront payment of INR 35,000 crores towards resolution of the debt of INR 49,213 crores of financial creditors. This was buttressed by a letter of commitment from Credit Agricole Corporate and Investment Bank. From this upfron...

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Clarification-Voting on behalf of creditors in a class in CIRP of Jaypee Infratech Limited

No. IBBI/CIRP/JIL - (06/12/2019) - Several mails have been received by the Board from some financial creditors in a class, namely, homebuyers expressing confusion about the manner of voting in the context of resolution plan in the corporate insolvency resolution process of Jaypee Infratech Limited. It appears that there is ‘interna...

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IRDAI : Extension of time/withdrawal of existing products

Ref: IRDAI/Life/CIR/MISC/212/11/2019 - (28/11/2019) - Authority has received representations from Life Insurance Council and various life insurers requesting for extension of the timelines referred in the quoted circulars citing reasons of ensuring system preparedness and training of personnel required.  On considering the same...

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IBBI (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2019

Notification No. IBBI/2019-20/GN/REG052 and Press Release No. No. IBBI/PR/2019/31 Dated 28.11.2019 - (27/11/2019) - The IBBI amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 vide The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (T...

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Institute of Actuaries of India (Transaction of Business at Meetings of Council) Amendment Regulations, 2019

F. No. M-18013/01/2017-Ins.1 (E) - (22/11/2019) - Institute of Actuaries of India (Transaction of Business at Meetings of Council) Amendment Regulations, 2019. Video Conferencing means audio-visual electronic communication facility to enable members of the Council who could not attend in person to communicate concurrently with each other without an...

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IBBI notifies Regulations for Insolvency Resolution and Bankruptcy Proceedings of Personal Guarantors to Corporate Debtors

Press Release No. IBBI/PR/2019/30 - (20/11/2019) - There are occasions when a corporate debtor (CD) takes a loan guaranteed by another corporate person (corporate guarantor to the CD) or an individual (personal guarantor to the CD). The lender may pursue a remedy against the guarantor or the CD, being principal borrower, when there is a default in r...

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Recent Posts in "Corporate Law"

Clarification-Voting on behalf of creditors in a class in CIRP of Jaypee Infratech Limited

No. IBBI/CIRP/JIL (06/12/2019)

Several mails have been received by the Board from some financial creditors in a class, namely, homebuyers expressing confusion about the manner of voting in the context of resolution plan in the corporate insolvency resolution process of Jaypee Infratech Limited. It appears that there is ‘internal voting’ / ‘pre-polling’ on certa...

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FASTag – Electronic Toll Collection

FASTag is a digital system which has been developed by the National Payments Corporation of India (NPCI). It is based on National Electronic Toll Collection (NETC) programme. Due to the recent mandatory implementation, the word ‘FASTag’ has become more familiar within the general public at large. Implementation of ‘FASTag’ is a hu...

Read More
Posted Under: Corporate Law |

Benefits of Compulsory Insurance/Approved Gratuity Trust for Gratuity Benefits of Employees for Companies with Employee Strength 10 or More

This article is attempt to give more clarity about the Gratuity Benefits, Factors increasing the quantum of Gratuity Benefits Exponentially and Benefits of Compulsory Insurance/Approved Gratuity Trust for Gratuity Benefits of Employees for Companies with Employee Strength 10 or More...

Read More
Posted Under: Corporate Law |

6 Steps for IEPF refund

Investor Education and Protection Fund or IEPF is a fund which was established under the guidance of SEBI (Securities & Exchange Board of India) and MCA (Ministry of Corporate Affairs). This government fund has been enumerated under Section 205C of Companies Act, 1956.  The website was set up to promote “investors’ awareness and ...

Read More
Posted Under: Corporate Law |

MOS Finance: DRI must employ new-age technology to fight smuggling networks

Ministry of Finance MOS Finance: DRI must employ new-age technology to fight smuggling networks Posted On: 04 DEC 2019 Shri Anurag Thakur, Minister of State for Finance & Corporate Affairs, said that sharing information, using data analytics and usage of non-intrusive technologies should be harnessed to effectively battle the modus op...

Read More
Posted Under: Corporate Law |

All about Legal Metrology Act 2009

Legal metrology” means that part of metrology which treats units of weighment and measurement, methods of weighment and measurement and weighing and measuring instruments, in relation to the mandatory technical and legal requirements which have the objects of ensuring public guarantee from the point of view of security and accuracy of t...

Read More
Posted Under: Corporate Law |

18,782 cases filed under Insolvency & Bankruptcy Code

Ministry of Corporate Affairs 18,782 cases filed under Insolvency & Bankruptcy Code Posted On: 03 DEC 2019 4:20PM by PIB Delhi As on 30th June, 2019, a total of 18,782 cases have been filed under Insolvency and Bankruptcy Code (IBC), 2016, of which 2,173 cases have been admitted under IBC. Out of 2,173 admitted cases, 1,274 […...

Read More
Posted Under: Corporate Law |

Brief Review of DOT OSP License

OSP stands for Other Service Providers referring to the service provided in the Telecommunication Industry which uses telecom resources. It involves BPO/call centers, e-commerce, telebanking, telemedicine,-education, and other IT enabled services. Department of Telecommunication under the New Telecom Policy (NTP) 1999 made it compulsory f...

Read More
Posted Under: Corporate Law |

Corporate Compliance Calendar – December, 2019

CORPORATE Compliance CALENDAR  covers Compliance under Income Tax act, 1961, Compliance under Goods & Services Act, 2017, Compliance under Other Statutory Laws (PF, ESIC, Under Factories Act, 1948 and Contract Labour Regulation and Abolition Act, 1970 )  and Quarterly Compliances under SEBI (LODR) Regulations 2015....

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IPs to act as IRPs, Liquidators, RPs and Bankruptcy Trustees (Recommendation) Guidelines, 2019

Insolvency Professionals (IPs) to act as Interim Resolution Professionals (IRPs), Liquidators, Resolution Professionals (RPs) and Bankruptcy Trustees (Recommendation) Guidelines, 2019...

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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.