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.
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.
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.
Main reasons for the delay is the spate of litigations by the promoters. Once the CIRP order is passed, the promoters get into the action with the sole objective of getting back the company at a cheaper price.
An application filed to initiate CIRP against the petitioners under Section 7(2) of the IBC Vidarbha Industries Power Limited v. Axis Bank Limited.
The government has introduced the pre-packaged insolvency resolution process (PPIRP) for MSMEs, which allows them to initiate an insolvency process with the approval of two-thirds of their creditors.
Being the least expensive and less time-consuming, Mediation is popular ADR in India. The mediator plays the role of a neutral party who helps the parties to have direct communication and assists in exploring the options and a mutually accepted agreement.
Machine learning, deep learning, artificial neural networks, rule-based expert systems, and natural language processing are a few examples of artificial intelligence technologies employed in worldwide insolvency and bankruptcy processes.
Case of “Sundaresh Bhatt, Liquidator of ABG shipyard vs. Central Board of Indirect Taxes and Customs, in which it was held that the IBC provisions will prevail over the provisions laid down in the “Customs Act, 1962” and also set aside the order of the NCLAT”.
the Resolution Professional could have included their claims as liabilities to the Corporate Debtor in the Information Memorandum created in accordance with Regulation 36 of the Corporate Insolvency Resolution Process (CIRP) Regulations.
It is more crucial than ever to have an IBC-based legal framework to handle cross-border conflicts as the globalization of business and trade reaches new heights.
A recently evolved notion of co-relation of Principal amount and interest levied on it, for the purpose of Section 5(8) of the code and its implication in the application filed under Section 7.
The Corporate Debtor would carry on construction and out of total saleable construction 32% will be of landowner and remaining 68% will be of the Corporate Debtor.
Pre-pack mechanism, differs from the existing corporate insolvency resolution process (CIRP) and what challenges this new mechanism is likely to bring.
Specifically in insolvency proceedings, mediation as a tool can be employed to resolve issues and clear the bottleneck in the resolution process which had led to delays.
The withdrawal of an application for CIRP by the applicant would not prevent any other financial creditor from taking recourse to a proceeding under IBC.