The resolution plan shall provide for the payment of debts of financial creditors, who do not vote in favour of the resolution plan, in such manner as may be specified by the Board, which shall not be less than the amount to be paid to such creditors in accordance with sub-section (1) of section 53 […]
Every walk of human life needs self-discipline in the like manner every judicial decision should be based on judicial discipline. The judicial discipline is a vital factor in adjudication proceedings. The adjudicating authorities should be bound by the precedent judgments of the higher authorities in the identical cases. Then only the judicial decision would be […]
In Chapter 1 of its Report, CLC has recommended amendments to 46 more provisions , detailed below under CA 2013 to reduce or remove criminality and de-clog the criminal justice system by retention of status quo in case of non –compoundable offences. CLC has adopted a principle based approach to further remove criminality, in case of defaults which can be determined objectively, and which otherwise, lack the element of fraud or do not involve larger public interest.
Under Indian law, the legal rights and the restrictions imposed on Japanese nationals depend on whether they are categorized as residents or non-residents. Entry into India generally requires a valid visa granted by an Indian Mission (that is, consulate of the Indian embassy) abroad. Furthermore, foreign nationals who enter India must register themselves with the […]
Amendment in Criteria of threshold limits for Related Party Transactions (RPT) vide Companies (Meetings of Board and its Powers) Second Amendment Rules, 2019 On 18th November,2019 Ministry of Corporate Affairs (MCA) had notified amendment in the Companies (Meeting of Board and its Powers) Rules, 2014 and amended criteria for Related Party Transactions (RPT) by amending […]
Clarification regarding New Rule 36(4) of CGST Rules, 2017, Restriction in Availment of Input Tax Credit (ITC) Circular No. 123/42/2019– GST, Dt. 11 Nov 2019 This being a new provision, the restriction is not imposed through the common portal and it is the responsibility of the taxpayer that credit is availed in terms of the […]
The Director General of Foreign Trade (DGFT) has recently issued a Trade Notice No. 39/2019-20 dated 19 November 2019 to highlight Incorrect Data in certain IECs (Import Export Code number). Please find below synopsis of Trade notice for your reference: On analysis of the DGFT IEC database, it has been observed that there are certain data mismatch issues […]
Section 2(60) of the Companies Act defines ‘Officer who is in default’ and it mentions officers such as whole-time director, KMP, directors, etc. who shall be liable to any penalty or punishment in case of default committed by the company under the Companies Act, 2013.
What is Ocean freight? Ocean Freight is a method of transporting large quantities of goods through the sea. Products are packed into large containers which are loaded onto vessels sailed to the destination country. The largest ocean shipping carrier in the world is the Maersk Line. Other major ocean shipping lines are – Mediterranean Shipping […]
Last year saw ‘Andhadhun’ starring Ayushman, Tabbu at PVR cinema. Movie was Indian black comedy crime thriller. Every moment of the movie was intriguing but I was receiving frequent calls from my office so two times have to miss the film for 5-10 minutes each and after the film was over everybody was going gaga […]
