GST Rates on services relating to Motor Vehicles
By GST Division (gst@vinodkothari.com)
The GST rates assigned for transaction in relation to motor vehicle is summarized in the below table:
STATUS OF THE CLAIM MADE BY AN ALLOTTEE OF A PROPERTY AGAINST THE DEVELOPER OF SUCH PROPERTY
/0 Comments/in Insolvency and Bankruptcy /by Vinod Kothari ConsultantsBy Preksha Dugar, under the aegis of Vinod Kothari & Company
Introduction:
Delays in delivering possession by housing developers after receiving the consideration for the same to the respective allottees, has become a prominent issue in the recent times. The issue of the delays has been highlighted owing to the fact that despite incurring the complete expenditure for the apartments or flats, the allottees are rendered helpless financially when the huge sums of money spent by them are with the developers who are either insolvent or incapable of delivering the possession of such apartments or flats even after passage of years beyond the agreed date of delivery. The insolvency of the developer leaves the individual or the entity, which is the allottee in a disadvantageous position with the developer unjustifiably gaining while the interests of the allottee are prejudiced. Read more →
Amendment in SAST and ICDR in line with the Insolvency Code.
/0 Comments/in Insolvency and Bankruptcy, SEBI /by Vinod Kothari ConsultantsBy Rohit Sharma (resolution@vinodkothari.com)
Introduction
That any Act or Statute evolves and gaps in it are removed while the same become effective and is implemented – is a known theory.
With the implementation of the Insolvency and Bankruptcy Code, 2016 (“IBC” or “Code”) and with passing days of such implementation, the gaps in the Code / linked statutes are being realized and accordingly corresponding amendments are being brought. Read more →
Home buyers breathe a sigh of relief
/0 Comments/in Insolvency and Bankruptcy /by Vinod Kothari ConsultantsBy Vallari Dubey, (resolution@vinodkothari.com)
IBBI amends CIRP Regulations to include claims of other creditors
IBBI has taken a step towards making positive changes in the Insolvency and Bankruptcy Board of India (‘the Code’). The amendments being brought to Regulations pertaining to Corporate Insolvency Resolution Process, provides a relief to home buyers, who are stuck in the depth of undelivered or unfinished houses. With the aid of the amendments, such home buyers can now proceed to file their claims to the Resolution Professional under the Code. Read more →
Home buyers breathe a sigh of relief: CIRP Reg. Amended in favour of other creditors
/0 Comments/in Insolvency and Bankruptcy /by Vinod Kothari ConsultantsGuidance Note to NBFCs for nomination of counsel in Delhi High Court
/0 Comments/in NBFCs, SARFAESI, Securitisation /by Vinod Kothari ConsultantsBy Richa Saraf, (legal@vinodkothari.com)
BACKGROUND:
- In exercise of its powers under sub clause (iv) of clause (m) of sub section (1) of section 2 read with section 31A of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ( “SARFAESI Act”), the Central Government issued a notification[1] dated August 5, 2016 notifying 196 Non- Banking Financial Companies (“Notified NBFCs”) as “Financial Institutions”, registered with the Reserve Bank of India (RBI) and having asset of Rs. 500 crore and above as per their last audited balance sheet, on which the SARFAESI Act is applicable. Read more →
