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
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,
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
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
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
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
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
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
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
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
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