Micro, Small and Medium Enterprises likely to get Bifurcated Norms
The government fore-show that to foothold the interest of micro, small and medium enterprises (MSME) will get bifurcated norms for insolvency proceedings.
Search Results for: promoters
IBBI Chairman in no mood to review amendments in Bankruptcy Rules
The Insolvency and Bankruptcy Board of India (IBBI) appears to be in no mood to review amendments made in the bankruptcy code.
Unitech Case: SC raps Centre on moving NCLT without permission
The corporate affairs ministry has now sought time till Wednesday to respond and take instructions on how to protect home buyers’ interest. Supreme Court NEW DELHI: The Supreme Court on Tuesday asked the Centre why it did not take permission to move the National Company Law Tribunal (NCLT) to take over management of Unitech when the apex court … Continue reading “Unitech Case: SC raps Centre on moving NCLT without permission”
Supreme Court stays NCLT order allowing government to take control of Unitech
New Delhi: The Supreme Court on Wednesday stayed an order of the National Company Law Tribunal (NCLT) that allowed the government to take control of troubled builder Unitech Ltd by suspending its board. “NCLT should not have passed the order. We direct the stay of the order dated 8 December,” said Chief Justice Dipak Misra. The … Continue reading “Supreme Court stays NCLT order allowing government to take control of Unitech”
SC refuses to grant more time to Jaiprakash Associates for depositing Rs125 crore.
New Delhi: The Supreme Court on Thursday refused to grant extension of time to Jaiprakash Associates Ltd (JAL) to deposit Rs125 crore. The amount is to be deposited by the end of this month. JAL was seeking time until 31 January to deposit Rs125 crore. As of now, the company’s liability is Rs1,525 crores. “Comply with … Continue reading “SC refuses to grant more time to Jaiprakash Associates for depositing Rs125 crore.”
MahaRERA outspreads the definition of promoter in RERA
Maharashtra Real Estate Regulatory Authority (MahaRERA) has announced that landowners, investors having an area or revenue share in real estate project to be treated as a promoter. The authority has also released a circular in regards to the same. The circular stated, till now a promoter was the person who constructs or converts a building … Continue reading “MahaRERA outspreads the definition of promoter in RERA”
Income Tax evaders to be intimated through GST Data
The government is planning to use the data obtained from Goods and Services Tax (GST) filings to footprint the income tax evaders who are slipping away the income tax. Though the project is still in the initial stage, the government wants to create a database whereby income of companies and their promoters could be matched … Continue reading “Income Tax evaders to be intimated through GST Data”
MahaRERA Case Law-Interpretations of Co-Promoter Withdrawn
MahaRERA case law on power given to state RERA Authority w.r.t section 38 of Central Act. Withdraw of RERA office order on definition of co-promoter. Let’s check what this case law is all about.
10 Individuals banned by SEBI for Fraudulent Trade
Securities and Exchange Board of India (SEBI) has banned 10 individuals as they were sending out fake Short Message Service (SMS) in bulk recommending people to purchase the shares of the company to pump up trading volumes in the shares of Supreme Tex Mart Ltd (STML). According to SEBI, the SMS was sent to innocent … Continue reading “10 Individuals banned by SEBI for Fraudulent Trade”
What is Shell Company? A Bird’s Eye View
Directors of companies that defaulted on statutory compliances from serving on the boards of other firms to improve corporate governance and check financial irregularities through the use of shell companies.
Karnataka RERA: A Horror Story for Builders, but also not a Fairy Tale for Buyers
According to the act, all the on-going projects in States should register with State RERA Authority till 31st of July 2017. But this clause has just become an immaterial requirement for registration under RERA.
RERA Rules Notified by Telangana Government
Though the Central Authority allows secondary modifications as per the sources Telangana regime has decided to keep the Central Act as it is making nominal changes.
Builders Probing for 90 Days Window for RERA Filing
RERA Registration: The builders they are probing RERA Authority for 90-day window from the date of notification of RERA Rules to get themselves registered.
“Builders shutting eyes on RERA will face Penalty,” said Government
The State government advised the builders to register to register their ongoing projects under RERA Act. If the promoter fails to do so, they will be inviting cumbersome penalty.
RERA: A Daydream for Haryana to Come True
Haryana Cabinet has validated Haryana RERA Rules, making Haryana 23rd State has notified the RERA Rules.
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