Company Law : The clarification confirms that Small Companies remain exempt from Rule 9A even after obtaining an ISIN. Compliance obligations ar...
Company Law : The amendment changes KYC filing from annual to a three-year cycle. It clarifies timelines and reduces compliance burden while mai...
Company Law : The Bill focuses on easing compliance and decriminalising minor offences. It introduces streamlined procedures and enhanced govern...
Company Law : The article clarifies that companies are not required to complete annual filings for years in which no business activity was carri...
Company Law : The issue concerns whether companies can distribute funds before applying for strike off. It is clarified that presence of assets ...
Company Law : The MCA introduced a streamlined process for updating registered email IDs of companies and LLPs. The update ensures seamless rece...
Company Law : The issue involves failure in DIR-3 KYC filing due to DSC mismatch. MCA clarified that proper DSC registration with DIN is mandato...
Company Law : The MCA21 V3 portal will launch its final 38 company forms on July 14, 2025. Key dates include V2 e-filing discontinuation on June...
Corporate Law : Ministry of Housing & Urban Affairs Scheme of Special Micro-Credit Facility launched for Street Vendors – Striving towar...
Company Law : In this flash editorial author discusses the provisions of liability of directors after strike off of Company or winding up of Com...
Company Law : Article discusses Time Period for Filing of Appeal in National Company Law Appellate Tribunal (NCLAT) against the order of adjudic...
Corporate Law : In this editorial author discusses Judgment National Company Law Appellate Tribunal (NCLAT) in the case of Steamline Industries L...
Corporate Law : The 'I&B Code' is a complete Code by itself. The provision of the Power of Attorney Act, 1882 cannot override the specific provisi...
Corporate Law : Whether Corporate Debtor can bar the NCLT to accept the petition of Operational Creditor by raising a dispute on the Demand Notice...
In the article author explains provisions of Section 164 and 167 of Companies Act, 2013 related to Disqualification of Director. Author further explains how a director get rid from status of disqualification, if any to enable them to be eligible to appoint as director or continue as director in other Companies.
Whether Corporate Debtor can bar the NCLT to accept the petition of Operational Creditor by raising a dispute on the Demand Notice
Whether Creditor can file application against Corporate Guarantor in case of default by Principle Debtor and petition against principle debtor has already been admitted under the Insolvency & Bankruptcy Code, 2016.
In this Flash editorial, the author begins by referring the provisions of section 252 read with provisiosn of Section 164(2) of Companies Act, 2013 relating to Revival of Companies Struck off from the record of the Registrar and Removal of Disqualification of Director.
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.
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
WHETHER INSOLVENCY RESOLUTION PROCESS AGAINST GUARANTOR COULD BE INITIATED ON DEFAULT IN REPAYMENT TO 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 the default to the corporate debtor in such form and manner as may be prescribed
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 on, which can be struck off u/s 248(1).
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 and infrastructure issues also played a big role in hindering resolution. The time taken to close such cases was another major hindrance.
