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Corporate Law : The issue highlights mandatory annual return filing for LLPs. The key takeaway is that delayed filing attracts heavy daily penalti...
Corporate Law : The issue explains how businesses qualify as local suppliers under procurement rules. The key takeaway is that proper local conten...
Corporate Law : The Court noted that the temple was built and used by local residents for decades. It held that such collective acceptance negates...
Corporate Law : Economic reforms have reshaped employer-employee dynamics and legal structures. The analysis underscores balancing efficiency with...
Corporate Law : Organized crime laws relax traditional evidence rules to secure convictions. Courts balance this with safeguards against misuse. K...
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 : The Court held that repeated dishonour of cheque and non-payment after notice established a prima facie case. It refused to quash ...
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 : 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...
Revival of the stressed company may be the primary objective of the Code, but official data show that more companies have gone for liquidation in the new regime so far than the resolution as lenders have failed to endorse any viable plan for their revival. According to the data available on the IBBI website, till the end of June 2018, total 1547 applications for the Insolvency Resolution were filed out of which 977 applications had been admitted into resolution process and of which 91 were closed on appeal or review. Data further reveals that till 30th June 2018, total 136 companies yielded liquidations while only 34 companies achieved resolution.
Introduction The Provisions of voluntary winding up have been removed from the Companies Act, 2013 and are now governed by the IBC, 2016. Ministry of Corporate Affairs vide notification dated 30th March, 2017 notified Section 59 of the Insolvency and Bankruptcy Code, 2016 which is relating to Voluntary Liquidation of Corporate persons. On the very next day, […]
In a memorable and consequential judgement, in the matter of Nikhil Mehta & Sons (HUF)&Or’s vs M/s AMR Infrastructure Ltd (CA No. 811(PB/2018 in IB-02(pb)/2017, it has been upheld that the voting threshold in the IBC are merely directory in nature and that preference can be taken to decision taken by the largest percentage in the Committee of Creditors in case of a deadlock. For a homebuyer or commercial property buyer, both of them involved in this case, the judge made an eventful judgement which approved the appointment of Interim Resolution Professional as Resolution Professional and that agenda items 4, 6 to 9 were also deemed to have been approved by majority of Committee of Creditors
People file affidavits being unaware of what its repercussions might be and also unaware of the fact whether they are at all competent to make the affidavit. Before analysing who can file an affidvit, it is important to understand the duty bestowed upon a person providing affidavit. Even before that let us first understand what an affidavit is.
Amendment to SARFAESI Act introduced in 2013 brought out certain changes in the Act wherein under section 14 compulsory filing of an affidavit by the secured creditor through their Authorised Officer with the District Magistrate / Chief Metropolitan Magistrate, as the case may be, to take possession of the secured assets is introduced.
1. Notice of Opposition to Registration Of Trademark Pursuant to section 21(1) read with rule 42, any person may within 4 months from the date of the advertisement or re-advertisement of Trade Mark Application (the date of publication of the trademark Journal in which the application for registration of the trademark was advertised or re-advertised), […]
Kehar Singh (D) Thr. L.Rs. & Ors.Vs Nachittar Kaur & Ors. (Supreme Court of India) Once the factum of existence of legal necessity stood proved, then, in our view, no co-coparcener (son) has a right to challenge the sale made by the Karta of his family. The plaintiff being a son was one of the co-coparceners along with his father-Pritam Singh. He […]
This is bring to your notice on circular no. CSD-1/CPGRAMS/Pragati e-Samiksha/2016/12866 dated 31-10-2016 wherein given direction that all death case claims submitted by spouse/’nominee/legal heir of EFF member be invariably settled within a period of 7 days from dale of submission of claim form in concerned field office where the deceased members accounts are being maintained.
1. Process Re-engineering of LLP – Incorporation related forms – Precautions to be taken by professionals and users In the wake of successfully initiating Ease of Doing Business (EoDB) reforms by introducing game changing, simplified and integrated procedures viz. SPICe (Simplified Proforma for Incorporating Company electronically), Reserve Unique Name(RUN) for starting a business in India, […]
Justice K.S. Puttaswamy (Retd.) & Another Vs. Union Of India & Others (Supreme Court) (1) Whether the Aadhaar Project creates or has tendency to create surveillance state and is, thus, unconstitutional on this ground? Incidental Issues: (a) What is the magnitude of protection that need to be accorded to collection, storage and usage of biometric […]
