Corporate Law News

Prosecution against 780 listed companies by MCA

24 March 2018 at 11:02

Ministry of Corporate Affairs (MCA) has filed prosecution against 780 listed companies under various sections of Companies Act, 2013 due to non-filing of Financial Statements and Annual ReturnsThe Government has taken any steps against listed compani

Posted in Corporate Law | 5577 Views

Draft Syllabus of Limited Insolvency Examination

22 March 2018 at 11:11

The Insolvency and Bankruptcy Code, 2016 (Code) provides for a class of regulated professionals, namely, Insolvency Professionals (IP), who constitute one of the four key pillars of the insolvency regime, other three being the Adjudicating Authority,

Posted in Corporate Law | 1 comments | 4263 Views

Nod of shareholders not required for insolvency resolution

14 March 2018 at 14:45

Resolution professional doesn’t require nod of shareholders/members for insolvency resolutionMinistry vide its circular no. IBC/01/2017 dated 25.10.2017 clarified that Section 30 and 31 of the Code provide a detailed procedure from the time of

Posted in Corporate Law | 2379 Views

9073 cases under consideration in NCLT

14 March 2018 at 14:45

9,073 cases are under consideration in NCLT, including 1,630 cases of Merger and Amalgamation; 2,511 cases of insolvency and 4,932 cases under other sections of Companies ActThe Company Law Board (CLB) set up under Companies Act 1956 stands dissolved

Posted in Corporate Law | 2814 Views

Insolvency and Bankruptcy board signs a MOU with RBI

13 March 2018 at 10:55

Insolvency and Bankruptcy Board of India signs a Memorandum of Understanding with the Reserve Bank of IndiaThe Insolvency and Bankruptcy Board of India (IBBI) signed a Memorandum of Understanding (MoU) today with the Reserve Bank of India (RBI). The

Posted in Corporate Law | 3084 Views

More than 2 lac disqualified directors where on Board of struck off Companies

10 February 2018 at 13:55

According to the provisions of Companies Law, out of 3,09,619 disqualified directors, 2,10,116 number of disqualified directors were directors on the Board of struck off companies The mandate under the Companies Act, 2013 is to regulate companies inc

Posted in Corporate Law | 1 comments | 3666 Views

Amendments made to Insolvency and Bankruptcy Regulations 2017

09 February 2018 at 11:18

Amendments made to the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017.Amendments come into force since yesterday after their publication in the Gazette of India;The Amendmen

Posted in Corporate Law | 5 comments | 5052 Views

Status of reactivated DINs under condonation of delay scheme

15 January 2018 at 11:16

Stakeholders of Condonation of Delay Scheme (CODS) (notified vide General Circular No.16/2017 dated 29th December 2017) may kindly note that the process for ‘reactivation’ of the DINs in respect of disqualified Directors has been complete

Posted in Corporate Law | 2730 Views

Reengineer the process of allotment of DIN

09 January 2018 at 11:04

It is proposed to reengineer the process of allotment of DIN by allotting DIN to individuals only at the time of their appointment as Directors (If they do NOT possess a DIN) in companies. DIR-3 (Application for Director Identification Number) would

Posted in Corporate Law | 2928 Views

Relaxation in the provisions of MAT for insolvent companies

08 January 2018 at 11:06

Relaxation in the provisions relating to levy of Minimum Alternate Tax (MAT) in case of companies against whom an application for corporate insolvency resolution process has been admitted under the Insolvency and Bankruptcy Code, 2016 The existing pr

Posted in Corporate Law | 2652 Views