Corporate Law Articles

Whether financial creditor of holding Co. considered as FC of subsidiary if subsidiary given loan security

FCS Deepak Pratap Singh 25 February 2022 at 08:58

The case essentially deals with a third-party mortgage extended by the Corporate Debtor for a loan taken by its holding company, wherein the Corporate Debtor mortgaged its property for such borrowing.

Future prospects should be paid even in case of notional income - Motor Vehicles Act,1988

FCS Deepak Pratap Singh 25 February 2022 at 08:58

In the recent case passed by the three-judge bench of the Supreme Court on 5 January 2021, the court granted future prospects even in cases of national income.

What is INC-20A Business Commencement Form?

InstaFiling Team 24 February 2022 at 09:05

INC-20A is a Declaration for Commencement of Business form. According to the new section 10A(1)(a), of the Companies Act, 2013, and Rules 23A of the Companies (Incorporation) Rule 2014, it is imperative for a director of an incorporated company to file an INC 20A form with the Registrar of Companies (RoC).

Comparison between CARO 2020 and CARO 2016

Neethi V. Kannanth 23 February 2022 at 11:39

From the Financial year 2021-22, CARO 2020 is replacing CARO 2016. What is the difference between CARO 2020 and CARO 2016? Is there any additional reporting requirement under CARO 2020? All these questions are answered here

Limitation period is 3 years even if default fall before enactment of IBC 2016

FCS Deepak Pratap Singh 22 February 2022 at 08:57

Limitation period for initiation of CIRP is 3 years from the date of default even if a default took place prior to the enactment of IBC,2016.

Compliance with latest CSR obligations as per Sec 135 of Companies Act, 2013

InstaFiling Team 22 February 2022 at 08:57

As the financial year comes to an end, apart from other compliances, it is important to ensure proper compliance with the CSR obligations under section 135 of t..

All about Uniform Customs and Practice for Documentary Credits (UCP)

FCS Deepak Pratap Singh 21 February 2022 at 12:06

A Documentary Letter of Credit or LC is an irrevocable, written undertaking by a commercial bank, issued at the request of the buyer (applicant) in favor of the seller (the beneficiary), to the effect that payment for certain goods or services will be made against a complying presentation of documents.

Some facts related to bank guarantees

FCS Deepak Pratap Singh 21 February 2022 at 08:40

A bank guarantee or also known as BG is a legal document issued by a bank or a financial institution to assure exporters/sellers/suppliers that they would be paid on time if the applicant/importer/buyer fails to pay the amount or fulfill the terms & conditions mentioned in the contract.

Exclusive jurisdiction of MACT in motor accident cases

FCS Deepak Pratap Singh 21 February 2022 at 08:40

In 1988 Motor Vehicle Act, 1988 was passed by the parliament of India. This act is responsible for covering all the aspects that are related to road transport vehicles. Furthermore, this act provided licensing to the conductors and the drivers as well as registration of motor vehicles.

Claim cannot be denied on the basis that vehicle has transferred

FCS Deepak Pratap Singh 17 February 2022 at 08:37

Claim cannot be denied to the seller of the vehicle on the fact that the vehicle is sold to another person unless the sale is complete and ownership of the vehicle is transferred to buyer.