An insolvency professional shall be eligible to be appointed as a resolution professional for a fast track process of a corporate debtor if he, and all partners and directors of the insolvency professional entity of which he is a partner or director, are independent of the corporate debtor.
Central Government hereby notifies that an application for fast track corporate insolvency resolution process may be made in respect of the following corporate debtors under section 55 of the Insolvency and Bankruptcy Code, 2016
Central Government appoints 14th day of June, 2017 as date on which provisions of section 55 to 58 (both inclusive) of Insolvency and Bankruptcy Code, 2016 shall come into force.
An Act to make a provision for levy and collection of tax on intra-State supply of goods or services or both by the National Capital Territory of Delhi and the matters connected therewith or incidental thereto
An Act to make a provision for levy and collection of tax on intra-State supply of goods or services or both by the National Capital Territory of Delhi and the matters connected therewith or incidental thereto
Provided that different dates may be appointed for different provisions of this Act and any reference in any such provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision.
In exercise of the powers conferred by clauses (a) and (b) of sub-section (1) of section 462 and in pursuance of sub-section (2) of section 462 of the Companies Act, 2013 (18 of 2013) (hereinafter referred to as the said Act), the Central Government, in the interest of public, hereby amends the notification of the Government of India, in the Ministry of Corporate Affairs, vide number G.S.R. 464(E) dated the 5th June, 2015 published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub- section (i), dated the 5th June 2015
Appointment of Directors- Chapter XI, subsections (6) and (7) of section 152. Shall not apply to – (a) a Government company, which is not a listed company, in which not less than fifty-one per cent. of paid up share capital is held by the Central Government, or by any State Government or Governments or by the Central Government and one or more State Governments; (b) a subsidiary of a Government company, referred to in (a) above
G.S.R. 584(E). – Sub-section (7) of section 186 Provided that nothing contained in this sub-section shall apply to a company in which twenty-six per cent. or more of the paid-up share capital is held by the Central Government or one or more State Governments or both, in respect of loans provided by such company for funding Industrial Research and Development projects in furtherance objects as stated in its memorandum of association
(1) These regulations may be called the Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017. (2) These regulations shall come into force on the date of their publication in the Official Gazette.
