The Ministry of Corporate Affairs (MCA) on Thursday notified the rules for investigating complaints against judges of the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT). The MCA has notified...
The Supreme Court held that dispute as to the inheritance of shares is a civil dispute, cannot be decided in proceedings under Section 241/ 242 of Companies Act, 2013. The case is the outcome of...
The National Company Law Appellate Tribunal (NCLAT) has further extended office term of Justice (Retd.) Shri Bansi Lal Bhat, Member (Judicial) as officiating Chairperson for a period of three months with effect from 15.06.2020 or...
The National Company Law Tribunal(NCLT) ruled that the Central Government’s notification to increase the threshold limit from INR 1 Lakh to INR 1 Crore for initiating insolvency proceedings has prospective effect i.e. applicable from March...
The National Company Law Appellate Tribunal (NCLAT) has issued a standard operating procedure for conducting virtual hearing of urgent matters from June 1. The appellate tribunal has decided to hear all urgent matters through video...
The National Company Law Appellate Tribunal ( NCLAT ) has upheld the order directing State Bank of India ( SBI ) to the substitution of a financial creditor’s ex-employee as the proposed interim resolution professional...
In a Press Conference held yesterday, the Minister for Finance and Corporate Affairs Nirmala Sitharaman said that the Central government will allow direct listing of Securities by Indian Public Companies in Permissible Foreign Jurisdictions. The...
In a recent judgment, the National Company Law Appellate Tribunal(NCLAT) dismissed the appeal filed by ‘Association of Malayalam Movie Artistes’ (AMMA), Film Employees Federation of Kerala’ (FEFKA), ‘FEFKA Director’s Union’ and ‘FEFKA Production Executive’s Union’...
Amendment to the Companies Act, 2013 (‘the Act’) seems to be a routine activity of the Government. The Act was amended by the Companies Amendment Act, 2015, 2017, 2019 and now, in 2020 (as proposed)....
The National Company Law Appellate Tribunal (NCLAT) affirmed that the limitation period will not be extended in The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFAESI) and Debt Recovery Tribunal...
The National Company Law Appellate Tribunal (NCLAT) is being constituted in Chennai to handle matters arising from Southern states. The Central Government notifies that in the exercise of the powers conferred by section 410 of...
The National Company Law Appellate Tribunal (NCLAT) dismissed the appeal filed by the Confederation of All India Traders (CAIT) against the order of the Competition Commission of India (CCI) which sanctioned Walmart’s acquisition of Flipkart....
The National Company Law Appellate Tribunal (NCLAT) rejected the pleas of Deloitte, KPMG, and Auditors against the impleadment fraud in the IL&FS subsidiary. In the case of Deloitte Haskins & Sells LLP vs. Union of...
The National Company Law Appellate Tribunal (NCLAT) overturned the ruling of Competition Commission of India (CCI) and directed CCI to conduct a re-probe against the unfair practice of Flipkart. In the case of All India...
The Ministry of Corporate Affairs (MCA) issued a circular to clarify the statutory compliances of Corporate Insolvency Resolution (CIR) under Insolvency Bankruptcy Code, 2016 (IBC). The circular was issued on March 3, 2020, in the...
The National Company Law Appellate Tribunal (NCLAT) has directed the Unitech Limited to repay the amount to its deposit holders with the interest rates. Unitech Limited, which is one of India’s second-largest real estate investment...
The National Law Company Law Appellate Tribunal (NCLAT) releases Flipkart India from the corporate insolvency proceedings. A three-member bench of the National Law Company Law Appellate Tribunal (NCLAT) has directed the Interim Resolution Professional (IRP),...
The National Company Law Tribunal (NCLAT), New Delhi held that the auditor cannot be debarred for 5 years under Companies Act, 2013 in the absence of evidence supporting fraudulent intentions. In the case of Mukesh...
The National Company Law Appellate Tribunal (NCLAT), New Delhi has held that claim amount towards Interest on loan alone, cannot be termed as an ‘Operational Debt.’ The appeal came out from the order requested by...
Here are a few predictions that did rounds before the presentation of the Union Budget 2020. We examine how these predictions have turned into actual facts. Expectations Reality TAX SLABS up to Rs. 5 lakh...
In pursuance of the judgement of Hon’ble Supreme Court, the Government has decided to set up a bench of National Company Law Appellate Tribunal ( NCLAT ) at Chennai. This was stated by Shri Anurag...
© 2020 Taxscan | Simplifying Tax Laws