IBBI Disciplinary Committee is of the view that Mr. Abhishek Anand failed to take custody and control of the assets of CD and used the amount deposited by resolution applicant without getting the plan approved by AA and violated section 18(1)(f), 25(1), 25(2)(a), 31, 208 of the Code and regulation 7(2)(a), 7(2)(h) read with clause […]
IBC 2016 leaves no room to RP for expediency or scope of interpretation of provisions in favour of any party. The RP is duty bound to bring all the facts before the CoC for taking appropriate decision. Again, post facto approval, after inviting fresh EOI from DSKL does not help the cause of Mr. Pankaj Sham Joshi either.
As per Section 92(1)(f) of the Companies Act, 2013: Every company shall prepare a return (hereinafter referred to as the annual return) in the prescribed form containing the particulars as they stood on the close of the financial year regarding – meetings of members or a class thereof, Board and its various committees along with […]
Company contravened with the AS-18 read with Section 129 read with Schedule III of Companies Act, 2013 thereby affecting true and fair view of state of affairs of Company from financial year 2016-17 to 2020-21. Auditor failed to comment on the same in audit report for aforesaid financial years.
It is observed that the Company has not filed annual return since incorporation, therefore no record is available regarding the number of board meetings taken place. Hence, it is implied that the Company has not conducted the board meetings. Therefore, it appears that the provision of section 173(1) of the Companies Act, 2013 has been […]
NCLT Dress Code for President, Members, Legal Practitioner, Authorised Representative, IRP/RP/Liquidator and parties in person File No. 25/02/2023-NCLT NATIONAL COMPANY LAW TRIBUNAL 6th Floor, Block-3, CGO Complex, Lodhi Road, New Delhi- 110003 Dated: 27th January 2023 ORDER In supercession of National Company Law Tribunal (NCLT)’s order dated 02.08.2016 and 14.11.2017, and in exercise of the […]
IBBI disposes of the SCN cautioning IP, Mr. Rajagurusami Maheswaran to be more careful in future and directs him to strictly comply with applicable provisions of IBC Code and its underlying Regulations while performing his duties.
Section 152(3) of Companies Act, 2013, mandate that an individual cannot be appointed as director unless allocated a DIN as per Section 154
Notice of increase in the authorized Capital ought to have been filed by way of Form SH-7 with the office of the undersigned on or before 10.2022 i.e. within 30 days from the date of passing above Resolution dated 29.09.2022
The valuation profession thrives on the trust of the market and stakeholders. A registered valuer organization being the frontline regulator for valuation profession has crucial responsibility to retain and improve this trust. In order to impart justiciability to its functions, a registered valuer organization must have requisite infrastructure capability and institutional integrity. The organizational process […]
