By Team Vinod Kothari & Company (firstname.lastname@example.org) This version is dated October 3, 2017 ________________________________________________________________________________ Continuing the crackdown on shell companies, MCA in its Press Release issued on September 6, 2017, expressed that the government will soon take steps against the directors of the shell companies which have not filed returns for three or more […]
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National E-Governance Services Ltd. receives final nod from IBBI Vallari Dubey email@example.com The Insolvency and Bankruptcy Board of India (“IBBI”) has granted the final approval to National e-Governance Services Ltd. (NeSL), allowing it to become the first information utility (“IU”) under the Insolvency and Bankruptcy Code, 2016 (“the Code”). Earlier in June, 2017, IBBI […]
By Richa Saraf, (firstname.lastname@example.org)
By Richa Saraf, (email@example.com) -Mobilox Innovations Pvt. Ltd. v. Kirusa Software Pvt. Ltd.
By Parul Bansal, (firstname.lastname@example.org) Background With the development of the economic conditions of the country, various investors including the retail investors are stepping into the securities market with the intention to earn higher return on their investments which has lead to large portion of their income being invested in shares, bonds or securities of listed […]
By Richa Saraf, (email@example.com) –Palogix Infrastructure Pvt. Ltd. v. ICICI Bank Ltd. The Hon’ble National Company Law Appellate Tribunal (NCLAT) has held that ‘Power of Attorney’ holders are not authorized to present Insolvency Application under Section 7, 9 and 10 of the Insolvency and Bankruptcy Code, 2016 (IBC). It is only authorized representatives, duly authorized […]
By CS Vinita Nair, (firstname.lastname@example.org) MCA has issued a notification notifying the Companies (Restriction on Number of Layers) Rules, 2017, imposing a limit of two layers of subsidiaries which shall be effective from September 20, 2017. Earlier, MCA vide public notice dated 1 June 28, 2017 had conveyed its intent of issuing a notification proposing […]