Living with the times

A lawyer who is not up to date with the current legal and regulatory updates is nothing short of dangerous. Therefore, at NovoJuris Legal, we strive to stay current. We are also strong believers of growth of knowledge through sharing. These articles and blogs help us share our research with the world, so that no one has to reinvent the wheel yet again.

  • Workmen dues under the Employees Provident Fund Act and the Insolvency Code   

    Workmen dues under the Employees Provident Fund Act and the Insolvency Code  

    Section 53 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) provides for the order of priority in which the proceeds from the sale of liquidation assets is to be distributed. The Section includes workmen due and the amounts payable to

    Sharda Balaji
    By Sharda Balaji about 1 month ago
  • Notification of Regulations for Insolvency process for Personal Guarantors to Corporate Debtors, effective from December 1, 2019

    Notification of Regulations for Insolvency process for Personal Guarantors to Corporate Debtors, effective from December 1, 2019

    Insolvency and Bankruptcy Board of India (“IBBI”) vide Gazette Notification dated November 20, 2019, notified the Insolvency and Bankruptcy Board of India (Insolvency Process for Personal Guarantors to Corporate Debtors) Regulations, 2019, inter-alia, providing below compliance: Appointment of resolution profession

  • Notification of Regulations for Bankruptcy Trustee for Personal Guarantors to Corporate Debtors, effective from December 1, 2019  

    Notification of Regulations for Bankruptcy Trustee for Personal Guarantors to Corporate Debtors, effective from December 1, 2019  

    Insolvency and Bankruptcy Board of India (“IBBI”) vide Gazette Notification dated November 20, 2019, notified the Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019, inter-alia, providing below compliance: Appointment of insolvency professional

  • Notification of Insolvency and Bankruptcy (Amendment) Act, 2018

    Notification of Insolvency and Bankruptcy (Amendment) Act, 2018

    The Insolvency Bankruptcy Code (Second Amendment) Bill, 2018 was introduced in the Parliament on July 23, 2018 to amend the Insolvency and Bankruptcy Code, 2016 and replace the Insolvency and Bankruptcy (Amendment) Ordinance, 2018 that was released on June 6,

  • APPLICABILITY OF LIMITATION ACT UNDER IBC (BK EDUCATIONAL SERVICES PVT. LTD Vs. PARAG GUPTA ASSOCIATES)

    APPLICABILITY OF LIMITATION ACT UNDER IBC (BK EDUCATIONAL SERVICES PVT. LTD Vs. PARAG GUPTA ASSOCIATES)

    Background Under the Insolvency and Bankruptcy Code 2016 (the Code), there has been an ambiguity with respect to applicability of the Limitation Act, 1963 (the Limitation Act). This has been deliberated upon in several judgments of the National Company Law

    Sharda Balaji
    By Sharda Balaji over 2 years ago
  • Withdrawal Application after Initiation of Corporate Insolvency Proceedings  under the IBC

    Withdrawal Application after Initiation of Corporate Insolvency Proceedings under the IBC

    Introduction In case of any disputes between the parties, there are probabilities that parties might compromise and settle the matter during the pendency of the case before the Court.  In this blog, we analyse the situation where the application has

    SH
    By Shivani Handa over 2 years ago
  • Are Assured Returns or Damages in instances of Breach a “Financial Debt” under Insolvency & Bankruptcy Code 2016?

    Are Assured Returns or Damages in instances of Breach a “Financial Debt” under Insolvency & Bankruptcy Code 2016?

    Under the Insolvency and Bankruptcy Code, 2016 (the Code), a financial creditor can initiate a Corporate Insolvency Resolution Process (CIRP) by filing an application before the jurisdictional National Company Law Tribunal (the NCLT) upon the occurrence of a default in

    Sharda Balaji
    By Sharda Balaji over 2 years ago
  • REGULATORY UPDATE: MINISTRY OF CONSUMER AFFAIRS, FOOD AND PUBLIC DISTRIBUTION-LEGAL METROLOGY (PACKAGED COMMODITIES) AMENDMENTS RULES, 2017.

    REGULATORY UPDATE: MINISTRY OF CONSUMER AFFAIRS, FOOD AND PUBLIC DISTRIBUTION-LEGAL METROLOGY (PACKAGED COMMODITIES) AMENDMENTS RULES, 2017.

    The Ministry of Consumer Affairs, Food and Public Distribution vide its order dated 23rd June, 2017 brought in amendments to the Legal Metrology (Packaged Commodities) Rules, 2011 in the backdrop of e-marketplaces causing new and complex consumer protection issues regarding

  • REGULATORY UPDATE: MINISTRY OF CORPORATE AFFAIRS-INSOLVENCY PROFESSIONAL NOT TO OUTSOURCE HIS RESPONSIBILITIES.

    REGULATORY UPDATE: MINISTRY OF CORPORATE AFFAIRS-INSOLVENCY PROFESSIONAL NOT TO OUTSOURCE HIS RESPONSIBILITIES.

    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

  • REGULATORY UPDATE: MINISTRY OF FINANCE-SUBMISSION OF FINANCIAL INFORMATION TO INFORMATION UTILITIES UNDER IBC.

    REGULATORY UPDATE: MINISTRY OF FINANCE-SUBMISSION OF FINANCIAL INFORMATION TO INFORMATION UTILITIES UNDER IBC.

    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

  • CLARIFICATION ON DEFINITION OF “JOINT VENTURE”

    CLARIFICATION ON DEFINITION OF “JOINT VENTURE”

    MINISTRY OF CORPORATE AFFAIRS (MCA) CLARIFICATION ON DEFINITION OF “JOINT VENTURE” FOR THE PURPOSE OF EXEMPTION FROM APPOINTMENT OF INDEPENDENT DIRECTORS BY CERTAIN UNLISTED PUBLIC COMPANIES The MCA vide its notification dated 5 July 2017 had inserted Rule 4(2) and

  • Insolvency & Bankruptcy Code- Protection FROM Creditor or Protection FOR Creditor

    Insolvency & Bankruptcy Code- Protection FROM Creditor or Protection FOR Creditor

    Background The Insolvency and Bankruptcy Code, 2016 (Code) was notified effective 28 May 2016 with an aim amongst many others, to complete insolvency resolution process in time bound manner, to revive the entity and to ensure/safeguard the value of creditors

    Sharda Balaji
    By Sharda Balaji over 2 years ago
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