0 comments on “During the liquidation process, step required to be taken for its revival and continuance of the Corporate Debtor by protecting the Corporate Debtor from its management & from a death by liquidation-Superna Dhawan & Anr. Vs. Bharti Defence and Infrastructure Ltd. & Ors.-NCLAT”

During the liquidation process, step required to be taken for its revival and continuance of the Corporate Debtor by protecting the Corporate Debtor from its management & from a death by liquidation-Superna Dhawan & Anr. Vs. Bharti Defence and Infrastructure Ltd. & Ors.-NCLAT

During proceeding under Section 230, if any, objection is raised, it is open to the Adjudicating Authority (National Company Law Tribunal) which has power to pass order under Section 230 to overrule the objections, if the arrangement and scheme is beneficial for revival of the ‘Corporate Debtor’ (Company). While passing such order, the Adjudicating Authority is to play dual role, one as the Adjudicating Authority in the matter of liquidation and other as a Tribunal for passing order under Section 230 of the Companies Act, 2013. As the liquidation so taken up under the ‘I&B Code’, the arrangement of scheme should be in consonance with the statement and object of the ‘I&B Code’.

0 comments on “Indian Valuation Standards as issued by the ICAI effective for the valuation reports issued on or after 01.07.2018”

Indian Valuation Standards as issued by the ICAI effective for the valuation reports issued on or after 01.07.2018

The Institute of Chartered Accountants of India (ICAI) issues Valuation Standards as a benchmark for Valuation Practices applicable for Chartered Accountants: Recognising the need to have the consistent, uniform and transparent valuation policies and harmonise the diverse practices in use…

0 comments on “Chapter-XVIII Removal of Names of Companies from the Register of Companies (Companies Act, 2013)”

Chapter-XVIII Removal of Names of Companies from the Register of Companies (Companies Act, 2013)

COMPANIES ACT, 2013 CHAPTER XVIII REMOVAL OF NAMES OF COMPANIES FROM THE REGISTER OF COMPANIES Section 248: Power of Registrar to remove name of company from register of companies (w.e.f. 26.12.2016): “248. (1) Where the Registrar has reasonable cause to believe…

0 comments on “Chapter-XIX Revival and Rehabilitation of Sick Companies (Companies Act, 2013)”

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COMPANIES ACT, 2013 CHAPTER XIX REVIVAL AND REHABILITATION OF SICK COMPANIES (The whole chapter is omitted by the the Insolvency and Bankruptcy Code, 2016, w.e.f. 15-11-2016. To read omitted sections, go to footnotes) 253. Determination of sickness 253. 1[Omitted by the Insolvency…

0 comments on “Chapter-XXVII National Company Law Tribunal (NCLT) and Appellate Tribunal (NCLAT) (Companies Act, 2013)”

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COMPANIES ACT, 2013 CHAPTER XXVII NATIONAL COMPANY LAW TRIBUNAL AND APPELLATE TRIBUNAL (Section 407 to 433) Section 407: Definitions (w.e.f. 12.09.2013): "407. In this Chapter, unless the context otherwise requires,— (a) “Chairperson” means the Chairperson of the Appellate Tribunal; (b) “Judicial…