Corporate Law

Approval required before issuance of Section 148 notice wef 1.4.2021

Four level of approvals are required before issuance of notice from specified authority . 1. Before conducting enquiry u/s 148A(a) 2. Before issuing notice under section 148A(b) 3. Before passing order under section 148A(d) 4. Before issuing notice under section 148 [proviso to section 148] In case where procedure under section 148A is no...

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Procedure under Section 148A for issue of notice u/s 148 wef 1.4.2021

Under the new previsions, before issuing notice, AO is required to comply with procedure under Section 148A. Earlier to 1.4.2021 before issue of notice u/s148 reason recorded by AO was the requirement . Now from 1.4.2021 issue of notice u/s 148A which is an opportunity to the assessee to explain his case when revenue requires […]...

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Third Party Insurance Deemed to be Transferred Along With Effective Control Over Vehicle in a Hire Agreement

Third Party Insurance Deemed to be Transferred Along With Effective Control Over Vehicle in a Hire Agreement It is common knowledge that Insurance companies shirk their liabilities on various  technical/venial grounds but the Courts do not let the Insurance Companies escape from their liabilities. One such matter recently on 14 July 2021...

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MSME – Investment limits, Registration, Benefits & role on Indian Economy

Micro, Small & Medium Enterprises (MSME) The concept of Micro, Small and Medium Enterprises (MSME) was first introduced in India in the year 2006. The MSME Sector has seen drastic growth in past five decades. The MSMEs are a crucial part of the economy and plays a vital role in the supply chain. MSME Sector […]...

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Analysis: IBBI (Insolvency Professionals) (Second Amendment) Regulations, 2021

*IBBI Notification No. IBBI/2021-22/GN/REG077 Dtd. 22nd July, 2021 The Insolvency and Bankruptcy Board of India (IBBI) has notified a new set of regulations to amend the existing IBBI (Insolvency Professionals) Regulations, 2016 which shall come into force as on the date of its publication in the Official Gazette. Sr. No. Amendment Effe...

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Guidelines for Technical Standards for Performance of Core Services & Other Services (Amendment), 2021

INSOLVENCY AND BANKRUPTCY BOARD OF INDIA New Delhi, the 26th July, 2021 AMENDMENT TO THE GUIDELINES FOR TECHNICAL STANDARDS FOR THE PERFORMANCE OF CORE SERVICES AND OTHER SERVICES UNDER THE INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (INFORMATION UTILITIES) REGULATIONS, 2017 In exercise of the powers conferred by section 196 of the Insolvenc...

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April-June 2021 Taxalogue e-Jounral by CBDT

This issue incorporates very interesting articles on a variety of topics. The articles briefly stated are: i. ‘Sports in Section 2(15) of Income-tax Act, 1961’ highlights the need of including sports, a field of eminent importance, in the definition of ‘charitable purpose’ bringing sports at par with yoga....

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Financial assistance towards MSMEs

Government has taken a number initiatives for providing financial assistance to the Micro, Small and Medium Enterprises (MSMEs) to cope with the financial impact of the COVID-19 pandemic ...

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New energy in startups space in 2021- Piyush Goyal

There is a new energy in our startups space. In just first 6 months of 2021, India has been to see 15 more unicorns . This was said by Shri Piyush Goyal while addressing the Plenary Session of CII- Horasis India Meeting 2021 on India’s Emerging Industry & Trade Architecture...

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Who can find address of Police Stations on Delhi Police’s official website?

The information as to whether office addresses of the Police Stations, Assistant Commissioners of Police & Deputy Commissioner of Police posted in sub-divisions/districts/units, Additional Commissioners of Police, Joint Commissioners of Police, Special Commissioners of Police and Commissioner of Police, Delhi are available on the offi...

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Second-hand flat buyers have Rights similar to Original Allottees: SC

Laureate Buildwell Pvt. Ltd. Vs Charanjeet Singh (Supreme Court of India) - Laureate Buildwell Pvt. Ltd. Vs Charanjeet Singh (Supreme Court of India) Larger Bench of SC declares that HUDA v. Raje Ram 2008 (17) SCC 407 and Wing Commander Arifur Rahman Khan and Anr. v. DLF Southern Homes Pvt. Ltd. 2020 SCC Online 667 (SC) are not good law- Purchaser of flat entitled to intere...

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Insurers liable to pay compensation despite change in vehicle ownership: SC

Uttar Pradesh State Road Transport Corporation Vs National Insurance Co. Ltd. & Ors. (Supreme Court of India) - Uttar Pradesh State Road Transport Corporation Vs National Insurance Co. Ltd. & Ors. (Supreme Court) SC holds that Insurance Companies are liable to pay compensation even if the vehicle is under contact and under control of State Transport Corporation and the insurance policy has been purchased ...

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SC upheld validity of 97th constitutional amendment | Effective management of co-op societies

Union of India Vs Rajendra N Shah & Anr. (Supreme Court of India) - Union of India Vs Rajendra N Shah & Anr. (Supreme Court of India) The Supreme Court on July 20 in a 2:1 majority verdict upheld the validity of the 97th constitutional amendment that deals with issues related to effective management of cooperative societies but struck down a part inserted by it ...

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SC set aside provision of Tribunal Reforms Ordinance 2021 fixing term of members of Tribunal at 4 years

Madras Bar Association Vs Union of India (Supreme Court) - The declaration of  Court in para 53(iv) of MBA-III should prevail and the term of Chairperson of a Tribunal shall be five years or till she or he attains the age of 70 years, whichever was earlier and the term of Member of a Tribunal should be five years or till she or he attained the age of 67 ye...

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SC imposes cost on Govt officer for Casual & Delayed Appeal Filing

The State of Odisha & Ors. Vs Sunanda Mahakuda (Supreme Court of India) - State of Odisha & Ors. Vs Sunanda Mahakuda (Supreme Court of India) Looking to the period of delay and the casual manner in which the application has been worded, we consider appropriate impose costs of Rs.25,000/- to be deposited with the Supreme Court Advocates On Record Welfare Fund. The amou...

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Handling Surrender requests of Annuity Policies issued to NPS Subscribers by ASPs

Circular no.: PFRDA/2021/30/SUP-ASP/6 - (22/07/2021) - PFRDA has been receiving requests for surrender of annuity policies post its issuance from the annuitants (who were erstwhile NPS Subscribers) or from other intermediaries with whom such Annuitants were associated earlier as NPS Subscribers. The Surrender is of two types viz surrender due to the app...

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Last date for December 2021 CMA exam registration extended

Notification No. G/128/7/2021-22 - (26/07/2021) - In pursuance of Regulation 20B of Cost and Works Accountants Regulation, 1959, the last date for registration/admission/enrolment to Foundation, Intermediate and Final Course students stands extended up to 10th August, 2021 (Tuesday) for December 2021 term of examination....

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IBC (Amendment) Bill, 2021 introduced in Lok Sabha

Bill No. 104 of 2021 - (26/07/2021) - The Insolvency and Bankruptcy Code (Amendment) Bill, 2021 introduced in Lok Sabha on 26th July 2021, that seeks to replace the Ordinance, inter alia, provides for— (a) specifying a minimum threshold of not more than one crore rupees for initiating pre-packaged insolvency resolution process; (b) di...

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MahaRERA: Procedure for transferring or assigning promoter’s rights & liabilities to a third party

Circular No. 24A/2021 - (23/07/2021) - Cases where the transfer is initiated by the promoter: The promoter shall have to apply to MahaRERA with the consent of two-third allottees as on the date of application in the project under consideration, to seek permission to transfer its rights and liabilities to a third party....

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IRDAI Standards & Benchmarks for Hospitals in provider Network- Reg.

Ref: IRDAI/HLT/REG/MISC/199/07/2021 - (23/07/2021) - Standards and Benchmarks for the Hospitals in the provider Network- taking into consideration the prevailing COVID-19 pandemic, the timelines for complying with the standards and benchmarks stands extended for a further period of one year for all the existing network providers as on the date....

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Recent Posts in "Corporate Law"

Approval required before issuance of Section 148 notice wef 1.4.2021

Four level of approvals are required before issuance of notice from specified authority . 1. Before conducting enquiry u/s 148A(a) 2. Before issuing notice under section 148A(b) 3. Before passing order under section 148A(d) 4. Before issuing notice under section 148 [proviso to section 148] In case where procedure under section 148A is no...

Read More
Posted Under: Corporate Law |

Procedure under Section 148A for issue of notice u/s 148 wef 1.4.2021

Under the new previsions, before issuing notice, AO is required to comply with procedure under Section 148A. Earlier to 1.4.2021 before issue of notice u/s148 reason recorded by AO was the requirement . Now from 1.4.2021 issue of notice u/s 148A which is an opportunity to the assessee to explain his case when revenue requires […]...

Read More
Posted Under: Corporate Law |

Third Party Insurance Deemed to be Transferred Along With Effective Control Over Vehicle in a Hire Agreement

Third Party Insurance Deemed to be Transferred Along With Effective Control Over Vehicle in a Hire Agreement It is common knowledge that Insurance companies shirk their liabilities on various  technical/venial grounds but the Courts do not let the Insurance Companies escape from their liabilities. One such matter recently on 14 July 2021...

Read More
Posted Under: Corporate Law |

MSME – Investment limits, Registration, Benefits & role on Indian Economy

Micro, Small & Medium Enterprises (MSME) The concept of Micro, Small and Medium Enterprises (MSME) was first introduced in India in the year 2006. The MSME Sector has seen drastic growth in past five decades. The MSMEs are a crucial part of the economy and plays a vital role in the supply chain. MSME Sector […]...

Read More
Posted Under: Corporate Law |

Analysis: IBBI (Insolvency Professionals) (Second Amendment) Regulations, 2021

*IBBI Notification No. IBBI/2021-22/GN/REG077 Dtd. 22nd July, 2021 The Insolvency and Bankruptcy Board of India (IBBI) has notified a new set of regulations to amend the existing IBBI (Insolvency Professionals) Regulations, 2016 which shall come into force as on the date of its publication in the Official Gazette. Sr. No. Amendment Effe...

Read More
Posted Under: Corporate Law |

Handling Surrender requests of Annuity Policies issued to NPS Subscribers by ASPs

Circular no.: PFRDA/2021/30/SUP-ASP/6 22/07/2021

PFRDA has been receiving requests for surrender of annuity policies post its issuance from the annuitants (who were erstwhile NPS Subscribers) or from other intermediaries with whom such Annuitants were associated earlier as NPS Subscribers. The Surrender is of two types viz surrender due to the applicability of Old Pension in case of Gov...

Read More

Guidelines for Technical Standards for Performance of Core Services & Other Services (Amendment), 2021

INSOLVENCY AND BANKRUPTCY BOARD OF INDIA New Delhi, the 26th July, 2021 AMENDMENT TO THE GUIDELINES FOR TECHNICAL STANDARDS FOR THE PERFORMANCE OF CORE SERVICES AND OTHER SERVICES UNDER THE INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (INFORMATION UTILITIES) REGULATIONS, 2017 In exercise of the powers conferred by section 196 of the Insolvenc...

Read More
Posted Under: Corporate Law |

April-June 2021 Taxalogue e-Jounral by CBDT

This issue incorporates very interesting articles on a variety of topics. The articles briefly stated are: i. ‘Sports in Section 2(15) of Income-tax Act, 1961’ highlights the need of including sports, a field of eminent importance, in the definition of ‘charitable purpose’ bringing sports at par with yoga....

Read More
Posted Under: Corporate Law |

Evidentiary Value of Expert opinion under Indian Evidentiary Act

The right of evidence allows an individual to: who is a witness to state the facts related either to a fact in dispute or to the relevant fact, but not to its inference. It covers both criminal and civil law. The opinion of any person other than the judge by whom the fact has to […]...

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Posted Under: Corporate Law |

Financial assistance towards MSMEs

Government has taken a number initiatives for providing financial assistance to the Micro, Small and Medium Enterprises (MSMEs) to cope with the financial impact of the COVID-19 pandemic ...

Read More
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.

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