Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023 MINISTRY OF CORPORATE AFFAIRSNOTIFICATIONNew Delhi, the 9th November, 2023 G.S.R. 832(E).—In exercise of the powers conferred by section 79 of the Limited Liability Partnership Act, 2008 (6 of 2009), the Central Government…
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1. The discussion paper deals with the following issues being faced in insolvency processes of real-estate projects: A. Mandatory registration and extension of projects under Real Estate Regulatory Authority (RERA); B. Operating a separate bank account for each real estate project; C. Execution of registration/sublease deeds with approval of committee of the creditors (CoC) during corporate insolvency resolution process (CIRP); D. CoC to examine and invite separate plans for each project; and E. Exclusion of property in possession of homebuyers from the liquidation estate. 2. Implementation of Amitabh Kant’s Committee Report on Real-Estate projects. 3. The Colloquium on Functioning and Strengthening of the IBC Ecosystem.
The Companies Act, 2013 Chapter-I Preliminary Click here for Companies Act Rules Section-1 Short title, extent, commencement and applicationSection-2 Definitions Chapter-II Incorporation of Company and Matters Incidental Thereto Section-3 Formation of companySection-3A Members severally liable in certain casesSection-4 MemorandumSection-5 ArticlesSection-6…
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The Companies Act, 2013 Rules Chapter-I Preliminary Click here for Companies Act, 2013 Sections The Companies (Restriction on Number of Layers) Rules, 2017The Companies (Specification of definitions details) Rules, 2014 Chapter-II Incorporation of Company and Matters Incidental Thereto The Companies…
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Discussion paper on amendments to Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Process) Regulations, 2016 1st November, 2023 This discussion paper solicits comments on following issues, namely: - A. Approval of committee of creditors (CoC) for…
On 30.10.2023, MCA notifies the amendments in Section 23- "Public offer and private placement", of the Companies Act, 2013 w.e.f. 30.10.2023. By the Companies (Amendment) Act, 2020 (s.5), the following two sub-sections were inserted: “(3) Such class of public companies may issue such class of securities for the purposes of listing on permitted stock exchanges in permissible foreign jurisdictions or such other jurisdictions, as may be prescribed. (4) The Central Government may, by notification, exempt any class or classes of public companies referred to in sub-section (3) from any of the provisions of this Chapter, Chapter IV, section 89, section 90 or section 127 and a copy of every such notification shall, as soon as may be after it is issued, be laid before both Houses of Parliament.” The above provisions enforced w.e.f 30.10.2023 vide the notification no. S.O. 4744(E) dated 30th October, 2023.
This paper covers the following issues: - 1) Monitoring of IPE acting as IP 2) Related Party Definition for an IPE acting as IP 3) Restriction on Number of Assignments by an IP 4) Minimum Fee Structure of an IPE acting as IP
To respond to emerging needs, the regulatory framework of the liquidation process has been amended on several occasions. With the emergence of new issues, as detailed in this paper, a need is felt to further strengthen the regulatory framework of the liquidation process in terms of certain matters related to sale, accountability of liquidator towards stakeholders, etc as detailed below: 1. Review of Auction Framework 2. Reduction in reserve price 3. Monitoring Private Sale 4. Listing of all assets on listing platform 5. Circulation of progress reports to stakeholders 6. Simplification of calculation of liquidator’s fee 7. Meetings of SCC at regular intervals 8. Preliminary Report 9. Liquidation Cost 10. Valuation related 11. Litigation related 12. Running business of the CD as Going Concern 13. Form H - Compliance Certificate 14. Assignment of Not Readily Realisable Assets (NRRA) 15. Early Dissolution 16. Withdrawal from Corporate Liquidation Account
File No. 25/02/2023-NCLTNATIONAL COMPANY LAW TRIBUNAL 6th Floor, Block-3, CGO Complex, Lodhi Road, New Delhi- 110003 Dated 11th October 2023 ORDER 1. Section 59 of the Insolvency and Bankruptcy Code, 2016 (Code) provides that a corporate person who intends to…
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MINISTRY OF LAW AND JUSTICE(Department of Legal Affairs)ORDERNew Delhi, the 13th October, 2023 S.O. 4506(E).—Whereas, the Mediation Act, 2023 (32 of 2023) (hereinafter referred to as the said Act) received the assent of the President on the 14th September, 2023;…
Read More The Mediation (Removal of Difficulties) Order, 2023 – SO 4506(E) dated 13.10.2023
