Search Results for: creditors

Appellate tribunal stays NCLT order allowing promoter to bid for firm

An appellate tribunal has stayed the order of the National Company Law Tribunal (NCLT) allowing the promoter of MBL Infrastructure to bid for his insolvent company. It also stayed the resolution plan for the company. The Kolkata bench of the NCLT had allowed the promoter of MBL Infrastructure, Anjanee Kumar Lakhotia, to place a resolution … Continue reading “Appellate tribunal stays NCLT order allowing promoter to bid for firm”

NCLT gives Shirdi Industries to promoters, offers hope to others

In a landmark judgement which may assist different promoters who are combating to defend their organizations, Mumbai-primarily based laminates maker Shirdi Industries has come to be the first case where a National Company Law Tribunal (NCLT) exceeded an order that allowed the corporation to be surpassed over to the same promoters for implementing the decision … Continue reading “NCLT gives Shirdi Industries to promoters, offers hope to others”

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”

Complaint handling regulations are implemented by IBBI

The complaint handling regulations have been implemented by Insolvency and Bankruptcy Board of India (IBBI). In the procedure, the complaint filing fee will be refunded to the stakeholder in case the complaint is found to be not “frivolous or malicious”. This will be applicable to all stakeholders, including creditors, debtors and service providers. A stakeholder … Continue reading “Complaint handling regulations are implemented by IBBI”

Want To Relax In GST, Do It Till June 30th 2017

Millions of traders migrating to GST from current tax regime like excise and VAT are currently undergoing both adventure and stress. The biggest concern is the old goods lying in the store and warehouse, on which the input tax of the taxes paid is to be taken in the new tax regime.

CSR Provisions – Obligation or Opportunity in the context of Corporate thinking

With the introduction of Corporate Social Responsibility provisions, many corporate consider this provision to be a burden on them. Many of them believe that the business set up by them is for the betterment of their own and their successors and when the Society’s welfare comes into picture, they say that govt.

What is Producer Company Registration and Its Benefits

Producer Company means a corporate body having objects or activities as specified under the Act. It consists of a group of people involved in the production of primary produce or having one or more objectives relating to primary produce.

Afraid of Debt Collectors! Here are ways to deal with Debt Collectors & Agencies

  A company or agency that is in the business of recovering money from debtors of others known to be Debt Collectors. Many debt collectors are hired by companies for a fee or for a percentage of the total amount collected. These companies purchase debt at a fraction of its face value and then attempt … Continue reading “Afraid of Debt Collectors! Here are ways to deal with Debt Collectors & Agencies”