The Insolvency and Bankruptcy Board of India (IBBI) has notified the IBBI (Grievance and Complaint Handling Procedure) Regulations, 2017 on 7 December 2017. The Regulation enable the stakeholders i.e., debtor, creditor, claimant, service provider, resolution applicant or any other person
The IBBI vide its circular dated 3 January 2018 has directed Insolvency Professional that while acting as an Interim Resolution Professional, a Resolution Professional, or a Liquidator for a corporate person under the Code, an insolvency professional shall exercise reasonable
The Insolvency and Bankruptcy Board of India (IBBI) vide its circular dated 3 January 2018 has directed that the Insolvency Professional shall not outsource any of his duties and responsibilities to a third party and shall not require any certificate
Under the provisions contained in section 9(1)(i) of the Income-tax Act, 1961 ('Act'), all income accruing or arising, whether directly or indirectly, through or from any business connection in India, or through or from any property in India, or through
The Ministry of Finance vide its press release dated 6 January 2018 has informed that representations were received from the companies against whom an application for corporate insolvency resolution has been admitted by the adjudicating authority under section 7, 9
In terms of Insolvency and Bankruptcy Code, 2016, a financial creditor have to submit financial information and information relating to assets in relation to which any security interest has been created, to an information utility (IU) in the manner as
The MCA vide its notification dated 4 December 2017 with the concurrence of the Chief Justice of the High Court of Karnataka, designated the LIX Additional City and Sessions Judge, Bengaluru City, as Special Court for the speedy trial of
The MCA has notified the Companies (Amendment) Act, 2017 effective from 3 January 2018, this shall amend certain existing provisions of the Companies Act 2013. Key Amendments are as below: The definition of “Associate Company” is aligned with Accounting Standard
In view of reports of misuse of multiple layers of companies, where companies create shell companies for diversion of funds or money laundering, MCA vide its notification dated 20 September 2017 has notified the Companies (Restriction on the number of
The Union Cabinet has approved the introduction of this Bill in the Parliament. The main purpose of this Bill is to increase the ceiling of Gratuity Payments for private sector employees, in line with the ceiling for Government employees, which
The SEBI vide its circular no. IMD/FPIC/CIR/P/2017/113 dated 4 October 2017 has revised Foreign Portfolio Investors (FPI) debt limits for investment in Government securities for the October-December 2017 quarter as below: FPI investment limit in Central Government securities has been
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