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Governance of Insolvency Professional Agencies and Information Utilities

The IPAs have responsibility to develop and regulate the profession of IPs. They carry out quasi-legislative, executive and quasi-judicial functions. While they are public utilities and front-line regulators, they must compete with one another in terms of service rendered by their members acting as IPs....

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Posted Under: Corporate Law |

LIC to acquire controlling stake of IDBI Bank- Impact

LIC to acquire controlling stake of IDBI Bank Cabinet approves dilution of Government shareholding below 50% The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved conveying of no objection to reduction in Government of India shareholding in IDBI Bank Limited to below 50% by dilution.  It has also approved acquisitio...

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Posted Under: Corporate Law |

Arbitration and Conciliation (Amendment) Bill, 2018

Arbitration And Conciliation (Amendment) Bill, 2018 is introduced in Lok Sabha on 18th July 2018 to amend the Arbitration and Conciliation Act, 1996 to minimise the need to approach the Courts for appointment of arbitrators with a view to make India a hub of institutional arbitration for both domestic and international arbitration....

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Posted Under: Corporate Law |

Banning of Unregulated Deposit Schemes Bill, 2018

Non-banking entities are allowed to raise deposits from the public under the provisions of various statutes enacted by the Central Government and the State Governments. However, the regulatory framework for deposit taking activity in the country is not seamless....

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Posted Under: Corporate Law |

Negotiable Instrument (Amendment) Bill, 2018 passed by Lok Sabha

Lok Sabha passes Negotiable Instrument (Amendment) Bill, 2018 a bill further to amend the Negotiable Instruments Act, 1881 by which it has proposed to  insert section 143A -Power to direct interim compensation and Section 148-Power of Appellate Court to order payment pending appeal against conviction. Bill No. 281-C of 2017 THE NEGOTIABL...

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Posted Under: Corporate Law |

IBC: Financial Creditors realized claims of approx Rs. 47426 crore

The Financial Creditors have realized claims of approximately Rs. 47,426.75 crore in 26 cases where resolution plans are submitted under the IBC framework since its enactment....

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Posted Under: Corporate Law |

Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018

Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018 was introduced in Lok Sabha to to repeal and replace the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018  Notes on Clauses of Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018 ContentsNotes on Clauses of Insolvency and Bankruptcy Code (Second Amendment) Bi...

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Posted Under: Corporate Law | ,

Criminal Law (Amendment) Bill, 2018

Criminal Law (Amendment) Bill, 2018 was introduced in Lok Sabha to further amend the Indian Penal Code, Indian Evidence Act, 1872, the Code of Criminal Procedure, 1973 and the Protection of Children from Sexual Offences Act, 2012....

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Posted Under: Corporate Law |

Micro, Small and Medium Enterprise Development (Amendment) Bill, 2018

The Micro, Small and Medium Enterprises Development Act, 2006 (the said Act) was enacted to provide for facilitating the promotion and development and enhancing the competitiveness of micro, small and medium enterprises....

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Posted Under: Income Tax |

Registration certificates given to first set of 16 Registered Valuers

The Hon'ble Minister of State for Law & Justice and Corporate Affairs, Shri P. P. Chaudhary gave away registration certificates to the first set of 16 registered valuers at an event today at IBBI Office, Mayur Bhawan, Connaught Place, New Delhi. This marked the birth of a very important profession....

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Posted Under: Corporate Law |
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