The Calcutta High Court held that the procedure for submission of financial information under Section 215 of the Insolvency and Bankruptcy Code (IBC), 2016 is not mandatory. By the virtue of being a financial creditor...
The West Bengal Authority of Advance Ruling (AAR) ruled that assignment of leasehold right on land is taxable at the rate of 18% under GST. The NCLT passed an order, initiating the corporate insolvency resolution...
The Madras High Court held that an advocate acting professionally as per instructions of client cannot be prosecuted for offence of defamation. The case pertains to an application filed before NCLT seeking to remove chartered...
The National Company Law Tribunal (NCLT) dismissed the application for Corporate Insolvency Resolution Process under Section 10 of Insolvency Bankruptcy Code filed by M/s Neesa Infrastructure Limited on the grounds that no returns have been...
The Kerala High Court while ruling on the issue of jurisdiction of High courts held that under the provisions of the Companies Act, 2013 against any order of NCLT, an appeal lies to National Companies...
The Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019 empowering creditors to file insolvency application against personal guarantors to corporate debtors before the National...
The Supreme Court held that Approval of Resolution Plan (RP) not to be interfered with, if the Committee of Creditors (CoC) considered all factors. The Appellant, Karad Urban Cooperative Bank Ltd., which is the financial...
The National Company Law Appellate Tribunal (NCLAT) ordered the National Company Law Tribunal (NCLT) to constitute a bench consisting of Judicial Member and Technical Member for disposal of matter as per the directions of the...
The National Company Law Tribunal (NCLT)’s Mumbai bench has allowed State Bank of India (SBI) to initiate insolvency proceedings against Anil Ambani as a personal guarantor after two companies promoted by him failed to pay...
The National Company Law Appellate Tribunal (NCLAT) has set aside a plea challenging an NCLT order that rejected the petition to initiate insolvency proceedings against Tata Chemicals NSE 1.88 % for claimed operational debt of...
The Calcutta High Court quashed the order passed by the National Company Law Tribunal (NCLT) wherein it imposed a mandatory prescription on all financial creditors as defined under the extant provisions of the Insolvency and...
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 Ministry of Corporate Affairs (MCA) on Friday notified the extension of the term of office of Shri BethalaShantha Vijaya Prakash Kumar, Member (Judicial), as Acting President, National Company Law Tribunal (NCLT) for a period...
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 Institute of Company Secretaries of India ( ICSI ) has announced the 2nd batch of Online Professional Skill Development Training (PSDT) for CS trainees and aspirants. All students undergoing CS practical training and aspirants...
A recent GST ruling of the West Bengal Authority of Advance Ruling has mandated that a resolution professional since he is selling goods, has to be registered under the GST regime and pay tax thereon....
The West Bengal Authority of Advance Ruling (AAR) ruled that the sale of the assets of the applicant by an NCLT appointed liquidator is a supply of goods by the liquidator, who is required to...
The Kolkata bench of the National Company Law Tribunal (NCLT) ruled that the revised minimum threshold to trigger insolvency proceedings against companies will apply on a prospective basis. The Corporate Debtor, Om Boseco purchased various...
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...
Pursuant to provisions of section 96(1) of the Companies Act, 2013 (hereinafter referred to as ‘2013 Act’) every company has to conduct an Annual General Meeting (AGM) every year. The timeline or due date to...
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