All proceedings under the IBBI Code in respect of Corporate Insolvency are to be adjudicated by the National Company Law Tribunal (NCLT), which has been designed as the ‘Special One Window Forum’ to tackle all aspects of insolvency resolution. The NCLT is referred to as the ‘Adjudicating Authority’.
MCA in 2015, had notified the Companies (Indian Accounting Standards (IND AS)) Rules 2015. This stipulates the manner in which this standard will be applicable to certain classes of the companies and it was introduced in 2 phases by the MCA.
Corporate Social Responsibility (CSR) is a concept introduced by the Companies Act, 2013 via section 135 made effective from 01/04/2014. Companies, use resources in the form of money and material from the society to meet its business requirements. Utilization of public resources casts responsibilities towards such companies to expend certain sum of money out of its profits for the betterment and upliftment of the society.
It is good that our Country is approaching towards digital economy. It is simply need of the hour. But question remains whether our infrastructural developed to support this kind of digital advancement in every aspect of the economy. Unfortunately answer is No. The reason behind this article is one of our client received an Intimation […]
We are well aware that as per Section 22 of CGST Act, GST registration is required if the supply of goods or services exceeds the value of Rs.20 lakhs in a year. With effect from 1st April 2019 this threshold limit has been increased from Rs.20 lakhs to Rs.40 lakhs only for supply of goods. […]
Liability to pay interest on delay filling of GSTR 3B on delayed payment of GST to be calculated on net cash component after adjusting Input Tax Credit and not on Gross amount 1. In this Article an attempt has been made by the author to examine the scope of the delayed filling of Return GSTR […]
Background: This Act called The Prohibition of Benami Property Transaction Act 1988 (w.e.f Sept-1988) subsequently name substituted by THE Benami Transaction (Prohibition) Amendment Act, 2016 ( w.e.f Nov-2016). Benami Transaction (As Amended By Finance (No. 2) Act 2019) DEFINITION (u/s 2) BENAMI PROPERTY: Any property which is subject matter of Benami transaction. It also included any […]
1. How is an employee defined for the purpose of formal insolvency proceedings? 2. What are the entitlements provided to an employee within the framework of the Code, and to what extent are they given priority treatment during the formal insolvency proceedings?
Contracts of Guarantee are required in cases when a party requires a loan, goods or employment. There are three parties in this form of contract, namely, Principal Debtor, Creditor and Guarantor/Surety. The person in respect of whom the surety is given is called the Principal Debtor, and the person to whom the guarantee is given is called the Creditor.
Its been 20 days now since the results of CA Final was declared and since CA is one of the Toughest Professional Course, I am sure many of students wouldn’t have made this Time. Never Mind!!! I am sure you will surely turn it around in next 2-3 months. No Need to loose Hope as […]
