The major challenges in the insolvency resolution of real estate companies arise from the peculiarities of this sector, especially since the divergent interests of the allottees of the real estate projects do not align with the scheme of the CIRP.
Category: Insolvency & Bankruptcy Code 2016
Succinct Summary of The Fast Track CIRP under IBC, 2016
The fast-track CIRP is designed to expedite the insolvency process for smaller companies and enable their efficient restructuring or liquidation.
Understanding the interpretation of the Insolvency and Bankruptcy Code, 2016
Interpreting the Insolvency and Bankruptcy Code 2016 and sheds light on its significance in shaping the insolvency and bankruptcy landscape in India.
Proposed Amendments in the Insolvency and Bankruptcy Code, 2016
The issues that are adversely affecting the efficiency and effectiveness of the resolution process and for increasing the possibility of resolution, value of resolution plan, and ending timely resolution.
Taxation of Virtual Digital Assets
The Hon’ble Finance Minister stated that the scale and frequency of transactions in the VDA market made it necessary to legislate for a special tax structure.
Corporate Social Responsibility and its Insolvency
In the past few decades, business leaders as well as philosophers came up with a new phenomenon which is Corporate Social Responsibility (CSR). Under CSR Businesses are responsible to the society that exists around them. And under CSR only it becomes their moral duty to safeguard that society and help that society to grow.
Recovery of due amount under the MSMED, 2006
How a unit registered under MSME can recover the money as per the provisions of the Act? What are the liabilities of the buyer to make a payment towards the MSME registered unit?
Unveiling The Dark Side of Subvention Scheme
Subvention schemes, brings to light incidents of harassment, and analyses how fraud continues to exist in the market despite regulatory interventions such as the NHB decision to end subvention schemes.
The Authority Of The Nclt To Review Itself
The reviewing court can reverse the original decision or amend it as needed. With the passing of time, the judiciary has been paving the way for clearing the doubt regarding the power to review and recall.
Cheque bounce cases against non-residents of India (NRIs) and exemption from personal experience.
The offence of cheque bounce is punishable u/s 138 with a fine which can extend to twice the cheque amount or imprisonment for a term not exceeding 2 years.
The attachment of assets by the ED under the PMLA Act is not permissible once a company has entered insolvency
Asset attachment by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA) is critical in combating money laundering and criminal activities.
Newly Specified Timelines by MCA for Speeding up Merger Approvals
MCA has specified the timeline to speed up the process of Fast Track Mergers. Earlier there was no time limit for Official Liquidators and Registrar of Companies to give objections and suggestions to the CG and CG to pass the confirmation order of the scheme of merger and amalgamation.
Legal Remedies For Cheque Bounce
Cheque bounce is a criminal offence stipulated under Section 138 of the Negotiable Instruments Act, 1881. The aggrieved party can file a criminal as well as a civil case against the accused who must have had a legal obligation to repay the amount.
NCLT can issue non-bailable warrants against persons under IBC: NCLAT
The directors of the suspended corporate debtor filed an appeal against the National Company Law Tribunal’s (“NCLT”) ruling that rejected their request to have a non-bailable warrant issued against them.
Important compliances for private limited company
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.