By Richa Saraf, (firstname.lastname@example.org) In the case of Surendra Trading Company v. JuggilalKamlapat Jute Mills CO. Ltd. &Ors., the Apex Court was concerned with the correctness of the order passed by the National Company Law Appellate Tribunal (NCLAT) whereby it was held that the time of 7 (Seven) days prescribed in proviso to section 9(5) of […]
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In the matter of Canara Bank v. Deccan Chronicle Holdings Limited, NCLAT Principal Bench 25.09.2017 Vallari Dubey email@example.com Introduction Ever since the Insolvency and Bankruptcy Code 2016 (IBC 2016) was enacted, its overriding effect during the moratorium became the talk of the corporate town. It was yet to be tested whether the prohibition of […]
The Reserve Bank of India issued a Master Directions – Non Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017 (hereinafter referred to as “Directions”) on 4th October, 2017, which is an extensive statement outlining in detail the various rules and regulations that all existing and prospective entities carrying on or […]
Vallari Dubey firstname.lastname@example.org Bitcoin as a virtual currency has seen its ups and downs, and quite recently, a surge in the graph of the currency, tells us an interesting story. Amidst the growth of crypto-currency market worldwide, much has been said about plenty of risk that bitcoin brings with itself.
By Team Vinod Kothari & Company (email@example.com) 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 […]
National E-Governance Services Ltd. receives final nod from IBBI Vallari Dubey firstname.lastname@example.org 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, (email@example.com) In the case of M.D. Frozen Foods Exports Pvt. Ltd. v. Hero Fincorp Ltd., the Hon’ble Supreme Court held that there was no illegality in an Non-Banking Financial Company (NBFC) invoking SARFAESI Act for recovery of loan arrears with respect to an account classified as Non-Performing Asset (NPA) before the NBFC […]