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CA, CS, CMA : Highlights from August 5-11, 2024: Income Tax exemptions, GST updates, SEBI guidelines, and RBI monetary policy changes....
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Income Tax : Delhi High Court held that reassessment action under section 148 of the Income Tax Act post approval of the resolution plan unsust...
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In this case, petitioner was granted registration by the Board on 22nd February, 2017. Petitioner concealed the material information about pending CBI case against him at the relevant time. Subsequent acquittal or positive remarks as claimed by him are of no consequence as the aforesaid criminal proceeding was pending before Hon’ble CBI Special Judge against him […]
In view of the above, and the fact of failure to bring to the notice of the CoC by Mr. Bhat as to the moratorium imposed on the transfer of the asset and to ratify and approve the payment of EMIs to the HDFC and payment of the outstanding dues to the vendors/ service providers […]
Taking a percentage of the amount distributed/ amount realised out of the current assets of working capital of the CD by the Liquidator as his fee would only serve to vitiate the purpose of the Code. Instead of running the Company effectively, the liquidator may engage in distributing the working capital to earn a quick […]
Insolvency and Bankruptcy Board of India 7th Floor, Mayur Bhawan, Connaught Place, New Delhi – 110 001 Circular No. IBBI/LAD/35/2020 Dated: 29th October, 2020 To All Registered Insolvency Professionals All Recognised Insolvency Professional Entities All Registered Insolvency Professional Agencies (By mail to registered email addresses and on website of the IBBI) Dear Madam / Sir, […]
The Insolvency and Bankruptcy Board of India (IBBI) invites Expression of Interest (EoI) from eligible institutions for being considered for conducting a two-year Graduate Insolvency Programme (GIP) on regular basis.
From the report there does not appear any request of the Resolution Professional for issuance of the instructions for the purpose of conducting negotiations between the debtor and creditors for arriving at the repayment plan. Therefore, based on the reasons recorded in the report submitted by the Resolution Professional
In the matter of Mr. Vijay Kumar Garg, Insolvency Professional- This order to be read with the Order of Disciplinary Committee dated 08 June, 2020 After considering the representations made by the D&P, oral and written submissions made during personal hearing and in the light aforesaid findings, this DC opines as follows. (i) It is […]
Insolvency and Bankruptcy code 2016 was introduced with the vision to ease the restructuring and insolvency resolutions of corporate person partnership firms & other specified persons. The provisions for Fast Track Insolvency Procedure are laid under Part-II, Chapter-4 of the code. The ambit of the said provision covers Small companies, Start-Ups, Unlisted Companies with a […]
Volkswagen Finance Private Ltd. Vs Shree Balaji Printopack Pvt. Ltd. (NCLAT Delhi) From the documentary evidence on record it is clear that no ‘Charge’ has been registered under the provisions of Section 77(1) of the Companies Act 2013, in relation to the Subject Property. The Liquidator has rightly referred to Regulation 21 of IBBI (Liquidation […]
Mr. Santosh Kumar Shukla took charge as Executive Director, Insolvency and Bankruptcy Board of India (IBBI) in New Delhi today. Immediately before joining IBBI, he was serving as Chief General Manager in the Enforcement Department of the Securities and Exchange Board of India (SEBI).
