Section 7- Insolvency and bankruptcy Code, 2016 and IBC Amendment Ordinance, 2019 Filing of Application under section 7 of IBC Insolvency and bankruptcy code was enacted on 28.05.2016, with the intent of consolidating & amending the law relating to reorganization and insolvency resolution in a time bound manner. Section 6 of the code talks about […]
The CHAMPIONS stands for Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength. It was launched by the Ministry of Micro, Small and Medium Enterprises on 1st June, 2020. The portal is basically for making the smaller units big by solving their grievances, encouraging, supporting, helping and handholding.It is a real one-stop-shop solution of MSME Ministry.
Eventually, the IBC (Amendment) Ordinance, 2020 (Ordinance) is out to surcease the anticipations and discussions around suspension of Sections 7, 9 and 10 of Insolvency Bankruptcy Code, 2016 (Code) Covid 19, pandemic has impacted the business, economy, and financial market worldwide. In India for combating the spread of disease, nationwide lockdown was announced on 25th […]
Procedure to be followed for Transfer of Shares by Foreign Investor to any other Foreign Company Example A Ltd (Company Incorporated in India) B Ltd (A foreign Company holds 100% of A Ltd) C Ltd (A foreign Company holds 100% of B Ltd i.e the ultimate holding Company of A ltd. B Ltd has decided […]
DIN APPLICATION: Any person who intends to be a Director of a Company or Designated Partner of a LLP is required to have a valid Director Identification Number (DIN) or Designated Partner Identification Number (DPIN). Such person intending to apply for DIN will be required to make an application in e-Form DIR-3. DOCUMENTS REQUIRED TO […]
Recently, the news of the Hong Kong Extradition law protests and the extradition of the defaulter Liquid baron and Kingfisher Airlines Vijay Mallya have been making headlines in news. Vijay Mallya is a noted defaulter in India who dodged in loans worth 9000 crores which he had no intention of repaying the amount and took shelter in Britain and since then […]
Master Direction – Non-Banking Financial Company –Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016 amended up to 17.02.2020. Till now NBFC’s with an assets size up to 100 crore and NBFC with an assets size between 100 crore to 500 crore to file annual return in NBS 8 and in NBS 9 respectively, which […]
Central Government has issued 3 Notification on 9th June 2020. Details, explanations and impact of all these Notifications been summarised precisely herein
Government has announced that E-way bill which has been generated on or before the 24th day of March, 2020 and its period of validity expires during the period 20th day of March, 2020 to the 15th day of April, 2020, the validity period of such e-way bill shall be deemed to have been extended till […]
GST on the GTA Service/Transport Service Introduction :– Transportation of goods from one place to another palace is the normal economic activity, in the India, there are huge no of trucks/Lori etc. for the transportation of the goods being vast area of our country whereas some state/location are main manufacturing hub such as Gujarat, tamilnadu […]
