MCA releases Booklet 'BE(A)WARE' on Measures to Overcome Fraudulent Schemes
The Ministry of Corporate Affairs ( MCA ) has released a booklet titled “BEWARE” for the public to overcome the fraudulent schemes. There has been...
![RP Misconduct: IBBI imposes Five Lakh Rupees fine for Conducting CoC Meetings without Sole Financial Creditor [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/RP-Misconduct-IBBI-CoC-Financial-Creditor-taxscan.jpg "RP Misconduct: IBBI imposes Five Lakh Rupees fine for Conducting CoC Meetings without Sole Financial Creditor [Read Order]")
![SEBI Modifies Rules for PSU divestment: Notifies Amendment to Substantial Acquisition of Shares and Takeovers Regulations, 2011 [Read Notification]](https://www.taxscan.in/wp-content/uploads/2022/11/SEBI-PSU-divestment-Amendment-Substantial-Acquisition-Shares-Takeovers-Regulations-taxscan.jpg "SEBI Modifies Rules for PSU divestment: Notifies Amendment to Substantial Acquisition of Shares and Takeovers Regulations, 2011 [Read Notification]")
![Guarantor shall pay off Debt on Default of Payment to Financial Creditor IL&FS: NCLAT upholds Order of Liquidation [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Debt-Payment-Financial-Creditor-ILFS-NCLAT-Liquidation-taxscan.jpg "Guarantor shall pay off Debt on Default of Payment to Financial Creditor IL&FS: NCLAT upholds Order of Liquidation [Read Order]")
Misconduct of Resolution Professional: IBBI imposes Penalty for Lapses in following Procedure [Read Order]
A Disciplinary Committee (DC) of Insolvency and Bankruptcy Board of India (IBBI) comprising Whole Time Member Jayanti Prasad has recently imposed penalty on Resolution Professional (RP) Sanjeev Ahuja...
![Misconduct of Resolution Professional: IBBI imposes Penalty for Lapses in following Procedure [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Misconduct-Resolution-IBBI-Penalty-TAXSACN.jpg "Misconduct of Resolution Professional: IBBI imposes Penalty for Lapses in following Procedure [Read Order]")
Delay in Handing Over of Documents to IRP: IBBI orders probation for Professional Misconduct [Read Order]
A Disciplinary Committee (DC) of the Insolvency and Bankruptcy Board of India, ordered probation to Insolvency Resolution Professional Mr. Prateek Kathuria for delay in handing over documents to the...
![Delay in Handing Over of Documents to IRP: IBBI orders probation for Professional Misconduct [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Documents-IRP-IBBI-Professional-Misconduct-TAXSCAN.jpg "Delay in Handing Over of Documents to IRP: IBBI orders probation for Professional Misconduct [Read Order]")
Income Tax Liability on Notional Income arose on Resolution Plan due to write back of unpaid dues to Creditors can be waived off: NCLT [Read Order]
The Mumbai Bench of the National Company Law Tribunal (NCLT) has held that income tax liability on notional income arose on resolution plan due to write back of unpaid dues to creditors can be waived...
![Income Tax Liability on Notional Income arose on Resolution Plan due to write back of unpaid dues to Creditors can be waived off: NCLT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Income-Tax-Liability-notional-income-resolution-plan-NCLT-taxscan.jpg "Income Tax Liability on Notional Income arose on Resolution Plan due to write back of unpaid dues to Creditors can be waived off: NCLT [Read Order]")
Notice not mandatory for Personal Guarantor at the stage of appointment of IRP: NCLT rules in favour of Central Bank of India
In the case of the Central Bank of India, the National Company Law Tribunal (NCLT) of Amaravati Bench held that notice is not mandatory for a Personal Guarantor at the stage of appointment of IRP. ...
Reliance Commercial Finance Ltd may revive IRP application if debt is not repaid by Corporate Debtor in 45 Days: NCLAT [Read Order]
The National Company Law Appellate Tribunal,( NCLT ) Principal Bench at New Delhi has held that no interferences can be made in the proceedings of the Adjudicating Authority and that the...
![Reliance Commercial Finance Ltd may revive IRP application if debt is not repaid by Corporate Debtor in 45 Days: NCLAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Reliance-Commercial-Finance-Ltd-IRP-Corporate-Debtor-NCLAT-taxscan.jpg "Reliance Commercial Finance Ltd may revive IRP application if debt is not repaid by Corporate Debtor in 45 Days: NCLAT [Read Order]")
Persons associated with Management of Corporate Debtor obligated to assist RP: NCLT denies Salary Claim by Ex-Managerial Personnel
The National Company Law Tribunal (NCLT), Ahmedabad Bench has recently ruled that, promoters and persons associated with the management of the corporate debtor are statutorily obligated to extend all...
Appointment of Compliance Officer Mandatory to Ensure Compliance with Provisions of IBC Law: IBBI [Read Circular]
The Insolvency and Bankruptcy Board of India (IBBI) has issued a circular mandating that an Insolvency Professional Agencies (IPA) shall designate or appoint a compliance officer who shall be...
![Appointment of Compliance Officer Mandatory to Ensure Compliance with Provisions of IBC Law: IBBI [Read Circular]](https://www.taxscan.in/wp-content/uploads/2022/11/Compliance-Officer-Provisions-IBC-Law-IBBI-taxscan.jpg "Appointment of Compliance Officer Mandatory to Ensure Compliance with Provisions of IBC Law: IBBI [Read Circular]")