The IBBI has amended liquidation regulations to place the Committee of Creditors at the center of the process. The changes aim to improve accountability, decision-making, and value realization during liquidation.
IBBI has amended the CIRP Regulations to enhance disclosures, strengthen information access, and introduce time-bound claim communication. The changes aim to make insolvency resolution more transparent and dispute-resilient.
The ROC Haryana held that failure to file MGT-14 within 30 days of passing a special resolution for issuance of CCDs constitutes a violation under Section 117(2). Companies must adhere to statutory timelines even when the default is subsequently rectified.
ROC Haryana held that mentioning an incorrect purpose in e-Form MGT-14 constitutes a violation under Rule 8(3) read with Section 450 of the Companies Act. However, the penalty was reduced due to the company’s Small Company and Start-up status.
Although the show cause notice referred to the maximum penalty applicable for continuing contraventions, the adjudicating officer treated the lapse as a one-time offence. This resulted in a lower penalty under the Companies Act framework.
The ROC Haryana held that incorrectly stating the purpose of filing in e-Form MGT-14 constitutes a violation under Rule 8(3) read with Section 450 of the Companies Act. Companies must ensure accuracy in MCA filings, as inadvertent mistakes can still result in penalties.
ROC held that omission of prescribed disclosures in the explanatory statement for a CCD issuance violated Section 62(1)(c) and Rule 13(2)(d). The company and its officers were penalized under Section 450 after admitting the default.
The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during FY 2026-27. The guidelines cover survey, search, reassessment, tax-evasion, exemption, and recurring addition cases.
PFRDA has introduced the StAR NPS platform to enable a fully digital and assisted onboarding process for NPS subscribers. The framework aims to streamline registration, KYC verification, and contribution processing through PoPs.
The IBBI imposed a two-year suspension after finding that the Insolvency Professional misrepresented before the adjudicating authority that no Committee of Creditors existed. The ruling highlights that concealment of material facts and bypassing Section 12A requirements attract serious disciplinary consequences.
