Divesh Goyal

Disqualification of Director for Non Filing of companies financial statement

Company Law - As MCA has struck off the approx 209,000 Companies from its record because of Non Filing of its financial statement for 3 years or more as per provisions of Section 164(2) and issued the list of approx 100,000 Director who has been disqualified under 164(2). Both the lists are available on the website of the MCA....

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Whether Company can be Restored if no business conducted since many years

Company Law - In this Flash editorial, the author begins by referring the provisions of section 252 of Companies Act, 2013 relating to Revival of Companies Struck off from the record of the Registrar. The main thrust of the article, however, is upon the WHETHER COMPANY CAN BE RESTORE IF NO BUSINESS CONDUCTED SINCE MANY YEARS...

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Whether Insolvency Resolution Process against Guarantor could be Initiated on default in Repayment to Creditor

Company Law - In this flash tabloid, the writer initiates by speak of the provisions of Insolvency & Bankruptcy Code, 2016 (hereafter referred as IBC) in relation to power of NCLT to accept the application in against Guarantor in case of default by Corporate Debtor. As IBC code has prescribed the Corporate Debtor. The main shove of the article, is upon...

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Power of NCLT to accept or reject joint application filed by operational creditor

Company Law - Power is given to Operational Creditor’s u/s 8 and 9 to file application against the corporate debtor in case of default in payment. As per language of Section 8 An operational creditor may, on the occurrence of a default, deliver a demand notice of unpaid operational debtor copy of an invoice demanding payment of the amount involved in...

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Disqualification of director – Struck off companies

Company Law - During the month June – August ROC has struck off the 200,000 (Two Lakh) Companies from its record. List of Companies struck off from record of ROC available on the website of the ROC. Even Our Honble Prime Minister Mr. Narendra Modi in his speech at ICAI on CA day has confirmed that scrutiny of 300,000 (Three Lakh) Companies are going...

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Withdrawn of Application- After Admission – NCLT – INSOLVENCY CODE

Parker Hannifin India Private Limited v/s Prowess International Private Limited (NCLT Kolkata) - NCLT has cleared that once a petition is admitted by the NCLT under IBC, both the parties have no right to withdraw the petition. As it can say IBC is not a Recovery Law it is Revival Law....

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Recent Posts in "Divesh Goyal"

Disqualification of Director for Non Filing of companies financial statement

As MCA has struck off the approx 209,000 Companies from its record because of Non Filing of its financial statement for 3 years or more as per provisions of Section 164(2) and issued the list of approx 100,000 Director who has been disqualified under 164(2). Both the lists are available on the website of the MCA....

Read More
Posted Under: Corporate Law |

Whether Company can be Restored if no business conducted since many years

In this Flash editorial, the author begins by referring the provisions of section 252 of Companies Act, 2013 relating to Revival of Companies Struck off from the record of the Registrar. The main thrust of the article, however, is upon the WHETHER COMPANY CAN BE RESTORE IF NO BUSINESS CONDUCTED SINCE MANY YEARS...

Read More
Posted Under: Corporate Law |

Whether Insolvency Resolution Process against Guarantor could be Initiated on default in Repayment to Creditor

In this flash tabloid, the writer initiates by speak of the provisions of Insolvency & Bankruptcy Code, 2016 (hereafter referred as IBC) in relation to power of NCLT to accept the application in against Guarantor in case of default by Corporate Debtor. As IBC code has prescribed the Corporate Debtor. The main shove of the article, is upon...

Read More
Posted Under: Corporate Law |

Power of NCLT to accept or reject joint application filed by operational creditor

Power is given to Operational Creditor’s u/s 8 and 9 to file application against the corporate debtor in case of default in payment. As per language of Section 8 An operational creditor may, on the occurrence of a default, deliver a demand notice of unpaid operational debtor copy of an invoice demanding payment of the amount involved in...

Read More
Posted Under: Corporate Law |

Disqualification of director – Struck off companies

During the month June – August ROC has struck off the 200,000 (Two Lakh) Companies from its record. List of Companies struck off from record of ROC available on the website of the ROC. Even Our Honble Prime Minister Mr. Narendra Modi in his speech at ICAI on CA day has confirmed that scrutiny of 300,000 (Three Lakh) Companies are going...

Read More
Posted Under: Corporate Law |

Whether Pendency of proceeding before DRT is Ground of Rejection under IBC

With the Insolvency and Bankruptcy Code inching in reality, the Debt Recovery Tribunals (DRT) will resolve individual bankruptcy cases, the National Company Law Tribunal will work on corporate insolvency. The reasons for the pile-up of cases varied from legal lacunae to insufficient technical expertise in dealing with such cases. Labour a...

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Posted Under: Corporate Law |

Impact of Disqualification on directors – struck off companies

Ministry of Corporate Affairs along with Ministry of Finance has taken actions against the Shell Companies in other words the Companies which has not filed the Financial Statement and Annual Return with ROC. They have taken the action step wise step like; MCA has cancelled the registration of around 2010 lakh (209,032) defaulting Companie...

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Posted Under: Corporate Law |

Investigation – SFIO – Arrest

The Ministry of Corporate Affairs by Notification NO. S.O. 2751(E) Dated: 24th August, 2017 has notified that [1]Section 212 sub-section (8), (9) and (10) shall come into force w.e.f. 24.08.2017. MCA further vide [2]notification no. G.S.R. 1062(e) Dated: 24th August, 2017 has published rules called the Companies (Arrests in connection wit...

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Posted Under: Corporate Law |

Major Amendment In Secretarial Standard 2- On General Meeting

In this Flash editorial, the author referring amendment i.e. Secretarial Standard -2 (here after referred as SS-2) issued on July, 1st, 2015 (here after referred as Old SS) and Revised version of SS-2 effective from 1st October, 2017 issued by issued by Institute of Company Secretary of India (ICSI) dated 30th August, 2017....

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Posted Under: Corporate Law |

Major Amendment in Secretarial Standard 1- Meeting of Board of Directors

Revised Secretarial Standard shall be effective w.e.f. 1st October, 2017. There are some alterations made in the revised SS-1 in comparison to former SS-1.This Standard prescribes a set of principles for convening and conducting Meetings of the Board of Directors and matters related thereto....

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Posted Under: Corporate Law |
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