Liquidation under Insolvency and Bankruptcy Code

Earlier the winding up of the company was initiated and conducted under the Companies Act, 1956 while the same has got annulled after the advent of Insolvency and Bankruptcy Code.

Insolvency Application viz-a-viz Ongoing Arbitration Proceedings

An application under section 7 filed by the Operational Creditor is barred due to pending Arbitration Proceedings as the on-going arbitration proceedings signifies the pre-existence of dispute

Exemption from the strict adherence to the timeline of 270 days of the Insolvency and Bankruptcy Code, 2016

The Corporate Insolvency Resolution Process has to be completed in 180 days along with the provision of 90 days of extension or maximum allowed time is 270 days.

Income Tax Audit-Applicability, Limits, Penal Consequences, Penalty for late filing

There are various kinds of audit being conducted under different laws such as company audit/statutory audit conducted under company law provisions, cost audit, stock audit etc.