The sub-regulation (1) and (10) of Regulation 31A of IBBI (Liquidation Process) Regulations, 2016, requires a liquidator to take advice of consultation committee in respect of sale under regulation 32 and such advice shall not be binding on the liquidator: Provided that where the liquidator takes a decision different from the advice given by the […]
DC is of the view that Mr. Mahesh Venkataraman failed in taking proper custody and control of the assets of CD-1 due to which breach of moratorium was done by management of suspended board by operating account with ICICI Bank, and with respect to CD-2, Mr. Venkataraman failed to maintain complete transparency in sharing profile of the professional engaged by him, with CoC.
UIDAI framework allows insurance companies to identify the customer by using his/her Aadhaar with consent management. In the absence of the Unique Customer Identification in the insurance sector, insurance companies are facing various issues while providing the services and claims apart from ease of onboarding the customers, circumventing possible frauds etc.
The violation of Section 42 of the Companies Act, 2013 pertains to the non-compliance of regulations regarding private placement of shares by a company. In this specific case, M/s. Payswiff Technologies Private Limited failed to adhere to the provisions of Section 42(6) of the Act, which requires the company to keep the funds received for […]
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued Supplementary Order No. 40 A/2023, which amends and supplements the provisions of Order No. 40/2022 dated 27.12.2022. The supplementary order clarifies the documents that promoters must submit when they are unable to comply with the directions issued under Order No. 7 of 2019 dated 08.02.2019. According […]
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued Order No. 45/2023, which pertains to the verification of the authenticity and genuineness of commencement certificates and occupation certificates submitted by promoters. The order highlights the establishment of MahaRERA as the regulatory authority for real estate in Maharashtra and the enactment of the Real Estate (Regulation […]
DC warns Mr. S. Shivshanker to be more careful in handling pending assignments and he is further directed to undergo pre-registration educational course specified under regulation 5(b) of the IP Regulations from the IPA where he is registered.
The DC takes note of regulation 3(4) of Insolvency and Bankruptcy Board of India (Grievance and Complaint Handling Procedure) Regulations, 2017, which provides that a grievance or complaint has to be filed within 45 days of occurrence of cause of action for the grievance or complaint which can be further extended by 30 days with […]
Instructions to ensure careful handling of registration, cancellation, and revocation of registration processes for fake taxpayers under GST system
Penalty for non-filing of Form MGT-14 is imposed under Section 117(2) of the Companies Act, 2013. The section states that if a company fails to file the resolution or agreement specified in sub-section (1) within the specified period, it will be liable to a penalty of ten thousand rupees.
