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Issues of Home Buyers under Insolvency and Bankruptcy Code

As is the usual practice, many of these customers have taken home loans, and they have to continue paying EMIs on their loans with no delivery date in sight. It has caused a lot of confusion and put many of them in dire straits financially. Banks will continue to demand EMI payments and if these customers default, the lenders can seize ot...

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Posted Under: Corporate Law |

Insolvency and Bankruptcy Code, 2016: Role of Insolvency Professional – A timely review

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...

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Posted Under: Corporate Law |

Oxygen for Insolvency Resolution

This 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....

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Posted Under: Corporate Law |

A framework for restructuring a Limited Liability Partnership

After 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. ...

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Posted Under: Corporate Law |

Condonation of Delay Scheme, 2018- Decoded

Looking 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)....

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Posted Under: Corporate Law |

Section 29A of Insolvency and Bankcruptcy 2016: Harsh on Promoters?

Section 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....

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Posted Under: Corporate Law |

Insolvency Case Study – Alok

On 26th Feb 2016, Alok Industries communicated to the Stock Exchange, informing them about the Extra Ordinary General Meeting of the Company to be held on 14th March. Among other things the special agenda had items that affected its creditors....

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Posted Under: Corporate Law |

“Minimum Government – Maximum Governance” is just a phrase only & not a reality

When we look this slogan of Minimum Government – Maximum Governance from the perspective of Income Tax law, then also it seems that picture is quite different. In year 2014, when tax audit report format is changed by CBDT and schemas are released very late, many trade and tax consultant associations had opposed it....

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Posted Under: Corporate Law |

Moratorium under Insolvency And Bankruptcy Code, 2016

The Moratorium, as envisaged in the Insolvency and Bankruptcy Code comes into effect immediately after the application under section 7, 9 or 10 of the Code, as the case may be, is admitted by the adjudicating authority. The day the insolvency application is admitted and moratorium is applied is referred to as the 'Insolvency Commencement...

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Posted Under: Corporate Law |

Why FSSAI orders e-commerce sites to remove unlicensed restaurants?

The Food Safety and Standards Authority of India (FSSAI) has made it compulsory for the leading e-commerce nourishment aggregators to exclude the restaurants and sustenance businesses that don't have FSSAI Registration or FSSAI license....

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Posted Under: Corporate Law |
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