Any person aggrieved by the order of the Hon’ble Adjudicating Authority i.e. National Company Law Tribunal (“NCLT”) under Section 61(1) of the Insolvency & Bankruptcy Code, 2016 (“IBC, 2016”) may prefer an appeal before the Hon’ble National Company Law Appellate Tribunal (NCLAT).
The NCLT has suggested to IBBI that there is a need to review the insolvency code regulations to ensure that they are not “misused or misinterpreted”.
In this article we have discussed about the procedures of filing a case before NCLT and the required documents.
Section 186 of Companies Act 2013 imposes restrictions on loans and investments that can by made by a company. The main aim of the provision is to ensure responsible financial management, prevent misuse of funds, and protect the interests of shareholders and creditors of the company. Section 186(1) states that a company can make investments … Continue reading “Regulation and Restriction on Loan and Investment by Company under Section 186 of Companies Act 2013”
Section 2(g) of The Digital Personal Data Protection Act, 2023 (hereinafter referred to as ‘the act’) defined ‘Consent Manager’ (hereinafter referred to as ‘CM’) as any person who takes the consent of data principle regarding manage, review, or withdraws for the concerned data in a transparent manner.
A One Person Company (for short “OPC”) is a company incorporated by a single individual. Before the Companies Act 2013, one person alone could not get a company incorporated and had to go for a Sole Proprietorship.
Asset attachment by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA) is critical in combating money laundering and criminal activities.
It is often said that one major disadvantage of a company structure is that there are more compliances. The cost of non-compliance is always more than the cost of compliance.
Mittal v Westbridge Ventures, the Singapore Court of Appeal reviewed several fundamental arbitration law issues, including the proper law of arbitration agreements and determining whether law determines whether a particular case is arbitrable.
NCLT specified the dress code for NCLT President, NCLT Members, Legal Practitioners, Authorized Representatives, Interim Resolution Professional, Liquidator, Resolution Professional, and parties present in person.
The Corporate Debtor went into CIRP vide the Adjudicating Authority (AA) order dated 20.09.2019 and Mr. Hemant Mehta (Appellant) got appointed as Interim Resolution Professional (IRP).
The Liquidator has a fiduciary responsibility with the Company and its creditors. The major goal of choosing a Liquidator is to resurrect a failing firm and operate professionally.
When a business decides to wind up, it can choose between a voluntary winding up method and a compulsory winding up procedure. In the year 2020, the Ministry of Corporate Affairs will issue notices on the winding up of small businesses.
The NCLAT had to decide whether the NCLT/CoC may provide resolution applicants repeated chances to alter their individual resolution plans and whether the CoC was authorised to entertain fresh or revised resolution plans without exhausting available bids.
Section 5(8)(f) Explanation makes it clear that any amount raised from an allottee under a real estate project shall be deemed to be an amount having the commercial effect of a borrowing.
join For Updates