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SC orders to extend limitation of all proceedings wef 15/03/2020

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..

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Law and Procedure for Fast Track Mergers and Amalgamations

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..

Posted in articles |   779 Views

Revival of Companies u/s 252 of Companies Act, 2013

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..

Posted in articles |   4685 Views

The Interaction between India's current insolvency code and income tax law

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..

Posted in articles |   4 comments |   897 Views

NCLAT: Jurisdiction and IBC Regime

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 ..

Posted in articles |   862 Views

Note on retrospective operation of Benami act

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 ..

Posted in articles |   1230 Views

Cabinet approves Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019

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..

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Unexplored Branches of IPR !!

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 ..

Posted in articles |   1136 Views

Applicability of Insolvency and Bankruptcy Code, 2016 to charitable Institution in India

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..

Posted in articles |   1088 Views

Insolvency & Bankruptcy Code(Amendment)Act,2019 notified on MCA dated 09.08.2019

The Ministry of Corporate Affairs hadnotified I.B.C (Amendment) Act,2019 dated 09.08.2019. &nbsp; &nbsp; &nbsp; For bare reference follow the link: &nbsp;<..

Posted in articles |   1 comments |   1237 Views

How to read the Law?

Another working Saturday, I thought to myself entering the workshop organized by the firm (clearly shows how na&iuml;ve I am and how much growing up is still left). But looking at the speaker&#39;s names, I knew I had to attend (Advocates, CAs and a Retired Departmental officer). A workshop on &ldquo;Analytical Skills&rdquo;. A certain part of that workshop covered ..

Posted in articles |   3 comments |   1281 Views

Annual Return on Foreign Liabilities and Assets Reporting by Indian Companies

Introduction Annual return on Foreign Liabilities and Assets has been notified under FEMA, 1999 and it is required to be submitted b..

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Insolvency & Bankruptcy Code, 2016 - Effective tool for recovery mechanism

INTRODUCTION Ever since the coming of Insolvency &amp; Bankruptcy Code, 2016 (in short &ldquo;IBC&rdquo;) 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.&nbsp;It is well known that in India a civil court of relevant jurisdic..

Posted in articles |   862 Views

Draft format of MOA of the Society

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Posted in articles |   4 comments |   3840 Views

Should membership and practice number be different to avoid misuse?

Dear Professional Friends,&nbsp; I am a CA with experience in the manufacturing industry and have the exposure of finance &amp; accounts profile in the industry. Today the industry has to obtain and submit numerous certificates from CA/CS/CMA about their financial &amp; business transactions to various stakeholders of the busin..

Posted in articles |   876 Views

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