Any aggrieved person can take a legal action against the Insolvency Professional who contravenes any of the provisions of the Code or violates or deviates from the professional duty entrusted upon him/her.
S Kumars like other top notch business entities is facing insolvency proceedings. This Code has brought a revolution in the country.
NPA War: The major buyout of debt-ridden Bhushan Steel by a Tata Group company and many more to come under the Narendra Modi-led government’s IBC reform.
UP RERA recently took a massive step by issuing recovery notice against 5 builders who failed to abide by the orders made by the Authority.
Most of you must have seen an arbitration clause in the terms & conditions of any contract that you sign. A detailed article on this subject and how it impacts debt recovery.
Outsource your work to debt recovery management organizations who while maintaining the harmony of your business relations will realize your debts with their expertise.
To recover any tax not paid inadvertently, GST provides for various provisions whereby a proper officer can demand and recover such amount of tax along with interest and penalty.
the criminal case brought under Section 138 read with Section 141 of the NI Act against the natural persons would not be over by application of the IBC’s provisions.
It was held that the Consumer Complaint of the appellant is not maintainable as the appellant is not a consumer as per section 2(1) d of the Consumer Protection Act,1986.
SARFAESI Act allows banks and financial institutions to recover their dues exceeding One Lakh Rupees by proceeding against secured assets of the borrower/guarantor without the intervention of the court/tribunals.
The Haryana State Pollution Control Board (hereinafter referred to as HSPCB) directed Rs. 45.40 crore penalty for violation of the Environment Act provisions. Additionally, the government has proceeded with criminal prosecution against delinquent builder in the environment court of Kurukshetra.
No further legal action shall be permissible by creditor, whose claim has been rendered unsatisfied as per the resolution plan.
In response to the damage done to the economy the Indian Government has placed certain embargoes and granted certain grace periods to help reduce the financial strain caused by the complete shutdown of the economy this includes the three month moratorium that has been given by the RBI regarding payments of EMI.
The LokSabha passed the IBC (Second Amendment) Bill 2019, which was first introduced by the Finance Minister Nirmala Sitharaman on 12 December 2019.
Corporate Insolvency Resolution Process initiated against Housing Development and Infrastructure Limited. Claims have been invited by the IRP from the creditors of the Company.
join For Updates