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Corporate Law : The High Court ordered rescheduling of bar elections after authorities failed to implement the Supreme Court’s 30% reservation f...
Corporate Law : Overview of the Constitution (106th Amendment) Act, 2023 covering women’s reservation in Parliament and Assemblies, its scope, t...
Corporate Law : Supreme Court holds safe road passage integral to Article 21 and issues nationwide directions on highway safety, enforcement, and ...
Corporate Law : The resolution plan was approved despite a higher competing offer, as creditors prioritized upfront payment and execution certaint...
Corporate Law : The Court examined misuse of anti-conversion laws through third-party complaints lacking factual basis. It held that such false FI...
Corporate Law : The amendments replace the consultation committee with CoC oversight, giving creditors greater control over liquidation decisions....
Corporate Law : The proposal focuses on enabling creditors to initiate resolution while retaining debtor management under supervision. It sets out...
Corporate Law : The amendments arise from the inclusion of a unified “service provider” definition under the Code. The move expands regulatory...
Corporate Law : The issue addressed is ambiguity in authentication and evidentiary value of financial information in insolvency cases. The propose...
Corporate Law : The proposal aligns grievance regulations with the newly introduced definition under the amended Code. It aims to ensure uniform a...
Corporate Law : Bank of India Vs Neurostar Hospital Private Limited (NCLT Mumbai) The application was filed under Section 7 of the Insolvency and ...
Corporate Law : The Tribunal held that appeals filed beyond the statutory 45-day limit cannot be entertained. It ruled that delay exceeding the co...
Corporate Law : The Tribunal held that insolvency proceedings cannot be avoided when total debt is higher than the arbitral claim. It ruled that u...
Corporate Law : The issue involved rejection of a delayed claim in bankruptcy proceedings. The Tribunal held that concealment of material facts by...
Corporate Law : The court interpreted the scope of Section 91 CrPC in summoning documents. It ruled that parties cannot demand documents as a matt...
Corporate Law : IRDAI delegates Section 34 powers between Whole Time Members and Chairperson. The move aims to streamline enforcement actions and ...
Corporate Law : The Bill mandates seat allocation using updated census figures, replacing decades-old data. It ensures fair representation aligned...
Corporate Law : The notification addressed mandatory reinsurance cession for general insurance policies. It mandates 4% cession to GIC Re, ensurin...
Corporate Law : The government approved a major fund to enhance startup funding through AIFs. The scheme aims to strengthen innovation, especially...
Corporate Law : EPFO permits de-linking of wrongly linked Member IDs even when contributions exist, subject to limits. The circular outlines a str...
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?
Limited Liability partnership (LLP) is hybrid of partnership and company. It is a partnership but comes with limited liability i.e. in the case of dissolution of business the partner’s personal property is not put at stake, only the property owned by business are attached. In India, it is introduced in 2008. The Limited Liability Partnership Act […]
SUBROGATION means substitution of a person or group by another in respect of a debt in insurance claim, accompanies by the transfer of any associated rights and duties.
Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2020 w.e.f. 06-01-2020 The present amendment has brought various new restrictions and time frames as under: CORPORATE LIQUIDATION ACCOUNT Regulation 2 A clause (ca) under Regulation 2 has been inserted to make provision for “Corporate Liquidation Account”. It shall be operated and maintained by IBBI, […]
The Objective of Guidelines on Standardization of General Clauses in Health Insurance Policy Contracts s is to standardize the common general clauses incorporated in indemnity based Health Insurance [excluding Personal Accident (hereinafter called as PA) and Domestic / Overseas Travel] products covering Hospitalization, Domiciliary hospitalization and Day care treatment in order to simplify the wordings of general clauses in the policy contracts and ensure uniformity and greater transparency.
Mahanagar Telephone Nigam Ltd. Vs Union Of India & Ors. (Delhi High Court) In the present case, respondent no.3 was satisfied while granting relaxation that the establishment may be eligible for granting exemption by the appropriate authority and thus the relaxation order was issued at that point in time in the year 1988. However, it […]
It has been brought to the notice of the under signed that the documents submitted at the counter of the Trade Marks Registry, Mumbai were not classified properly due to which the documents were not get scanned and digitized as required and also not able to properly distributed in the respective sections for necessary action.
Article explains LLP Act 2008, Need of Limited Liability Partnership, Object of the Limited Liability Partnership Act, 2008, What is Limited Liability Partnership / what LLP means, Salient features of Limited Liability Partnership Act, 2008, Nature And Scope of LLP Act 2008, Partners in LLP, LLP registration / Incorporation and name of the LLP, Annual […]
An OTS is a legitimate and valid acknowledgement of debt on the part of the Corporate Debtor and this just goes to show the liberal and pragmatic view of the NCLT while deciding such applications under Section 7. Unless overruled, this decision would set course for similar Section 7 applications in the future.
Where the proceedings under Section 138 of the Act had already commenced and during the pendency, the company gets dissolved, the directors and the other accused cannot escape by citing its dissolution. What is dissolved is only the company, not the personal penal liability of the accused covered under Section 141 of the Negotiable Instruments Act, 1881.
