A careful reading or analysis of the provisions of different statutes governing tax evasion, money laundering, security fraud, etc. suggests that Indian statutes impose vicarious liability on officers who are in charge of and responsible to the company for the conduct of business and those who contributed to the contravention or the offense by giving consent, connivance and not acting diligently.

Arbitrator Selection/Removal in 1996 Act

The arbitrator is a neutral third party who is appointed to resolve a dispute between two or more parties outside the court system. They play a crucial role in arbitration proceedings, which is an alternative dispute resolution method used to settle conflicts.

HC dismiss the writ regarding fees on IPs by IBBI

CA. Venkata Siva Kumar, the petitioner, is a chartered accountant who has registered as an IP with the IBBI. In his writ petition, he claimed that the IBBI Regulations, 2016 are in violation of Articles 14, 19, and 21 of the Constitution and should be overturned.

Section 14 of the I&B Code does not apply to personal guarantors

SBI initiated proceedings against Veesons under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), demanding an outstanding amount of approximately INR 61 crores as Veesons did not pay its debts on time.