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The Insolvency and Bankruptcy Board of India had made the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2018, effective from 6th February, 2018 (the ‘Amendment Regulations, 2018)
Transactions specifically related to Sections 43 to 46 and Section 66 of the Insolvency and Bankruptcy Code, 2016 are being looked at by the forensic experts. These sections deal with identifying preferential and undervalued transactions, and those deliberately entered into to defraud creditors.
Part II of Insolvency and Bankruptcy Code, 2016 deals with insolvency resolution and liquidation for corporate persons. The actual work will be mostly handled by ‘resolution professional’ under supervision of NCLT
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GST Comprehensive Notes for CA/ CS/ CMA Final [November and December 2017 Examination] – Beginners’ Guide- By: CA Kamal Garg.
CA Kamal Garg Personal properties of promoters given as a “Security” to the Banks – whether subjected to moratorium under Insolvency and Bankruptcy Code, 2016 Insolvency and Bankruptcy Code, 2016 has giving the debtor an opportunity of admitting his guilt by accepting the fact that default has occurred and he is ready to pay off his […]
What will be the GST implication if a manufacturer were to deliver goods by road to the customers using his own vehicle and charges freight in his bill that freight will be part of value of goods and GST payable on total value at same rate as of goods
NCLT/Regional Director can compound offences which are punishable with fine only. Offence can be compounded by Regional Director or person authorised by Central Government if maximum amount of fine that can be imposed does not exceed Rs. 5,00,000/=.
NCLT, while exercising the power of rectification under section 254(2), can recall its order in its entirety if it is satisfied that prejudice has resulted to the party which is attributable to the Tribunal’s mistake, error or omission
Applicant can appear before the Tribunal or the Appellate Tribunal in person or can authorise a chartered accountant, company secretary, cost and works accountant or a lawyer to appear before NCLT, NCLAT.
