In a recent judgment, the Supreme Court of India, while keeping up the efforts of plugging various loopholes in the Insolvency & Bankruptcy Code, 2016 ("Code"), decided an interesting legal issue relating to the scope of Section 5(20) of the Code, which provides the definition of "operational creditor".
A 'going concern sale' on an 'as is where basis' does not dissolve the corporate debtor, rather, it forms a part of the liquidation estate wherein the entire business, including assets and liabilities, including all contracts, licences, concessions, agreements, benefits, privileges, rights, or interests, is transferred to the purchaser.
Once the resolution plan was approved, all claims stood frozen and a claim which did not form a part of the final resolution plan would not be legally actionable.
The Central Government had launched Employees' Pension Scheme, 1995 in exercise of the powers conferred by Section 6A of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952).
From the discussion and the decision of the Apex Court,it is clear that according to the statutory scheme a collective investment scheme can only be floated by a person in the form of a collective investment management company and not in any other form and this is why, under sub-section 2 of Section 11AA, the term “company" is used instead of "person."
The undisputed facts are that the appellants contracted with the respondent (hereinafter referred to as "the insurer") and secured a medical insurance policy (hereinafter referred to as "Mediclaim"), for the first time in 1982.
Important Statutory Due dates for OPC Annual Filing for FY 2021-22
This article contains various Compliance requirements for the Month of April, 2022 under various Statutory Laws.
A share certificate refers to a document which is issued by a company evidencing that a person named in such certificate is the owner of the shares of the Company as stated in the share certificate
Important Statutory Due dates for LLP Annual Filing for FY 2021-22
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
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