This Court has taken Suo Motu cognizance of the situation arising out of the challenge faced by the country on account of Covid-19 Virus and resultant difficulties that may be faced by litigants across the country in filing their petitions/applications/suits/ appeals/all other proceedings within the period of limitation prescribed under the general..
The Companies Act, 2013 (CA 2013), dispenses with the cumbersome and time consuming process for mergers provided for under the Companies Act, 1956 and lays down a simple, fast track merger procedure for the merger of certain companies like holding and subsidiary companies, and small companies. This new move seems like a simplified procedure, and a move in the right direction with regards to the..
Revival of Companies Section 248 -Power of Registrar to remove the name of the company from register of companies A company struck-off under Section 248 of the Companies Act, 2013 can be restored in the Register of Companies by an order of the National Company Law Tribunal (NCLT). Who can f..
After adopting the Insolvency and Bankruptcy Code, 2016 (IBC), India overhauled the insolvency and bankruptcy law. The IBC is a landmark statute and a transformation through India's insolvency regime. The IBC insolvency settlement provides for the submission of potential creditor payments for the recovery of an unpaid debtor. These mitigati..
Introduction National Company Law Appellate Tribunal (NCLAT) was constituted under Section 410 of the Companies Act, 2013 for hearing appeals against the orders of National Company Law Tribunal(s), under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC) and the orders passed by Insolvency and Bankruptcy Board of ..
NOTE ON RETROSPECTIVE OPERATION OF BENAMI ACT: Section 1(3) provides that 'the provisions of sections 3,5 and 8 shall come into force at once (5th September 1988) and the remaining provision of this Act shall be deemed to leave come into force on the 19th day of May 1988. The decision of Hon'ble Calcutta High ..
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi today approved the proposal to make amendments in the Insolvency and Bankruptcy Code, 2016 (code), through the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019. The amendments aim to remove certain difficulties being faced during insolvency resolution process to realise the objects of the code and to further ea..
Whenever we think about Intellectual Property Rights there are only three broad areas that come into our mind and that is Trademark, Copyright & Patents but the question is'.does IPR strictly restricted to these three fields only or it is much wider than this? Well the domain of IPR is much, much wider than we think. With the ..
The legal framework prior to the Insolvency and Bankruptcy Code, 2016 (IBC) was not effective to help the timely recovery of defaulted and bad assets resulting not only delayed justice but also caused the undue strain on the Indian credit system. Before enacting IBC 2016 multiple laws dealing with the recovery of defaulted and bad ass..
The Ministry of Corporate Affairs hadnotified I.B.C (Amendment) Act,2019 dated 09.08.2019. For bare reference follow the link: http://www.mca.gov.in/Ministry/pdf/IBCAmedBill_08082019.pdf <..
Another working Saturday, I thought to myself entering the workshop organized by the firm (clearly shows how naïve I am and how much growing up is still left). But looking at the speaker's names, I knew I had to attend (Advocates, CAs and a Retired Departmental officer). A workshop on “Analytical Skills”. A certain part of that workshop covered ..
Introduction Annual return on Foreign Liabilities and Assets has been notified under FEMA, 1999 and it is required to be submitted b..
INTRODUCTION Ever since the coming of Insolvency & Bankruptcy Code, 2016 (in short “IBC”) its been a great law codified by the Government of India and has made sure that the Non Performing Assets are out from all the sectors. It is well known that in India a civil court of relevant jurisdic..
Dear Professional Friends, I am a CA with experience in the manufacturing industry and have the exposure of finance & accounts profile in the industry. Today the industry has to obtain and submit numerous certificates from CA/CS/CMA about their financial & business transactions to various stakeholders of the busin..