Category - Business Law

IBBI notifies Regulations for handling of Grievances and Complaints

INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 6th December, 2017 No. IBBI/2017-18/GN/REG/21.—In exercise of the powers conferred under sections 196, 217, read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Insolvency and Bankruptcy Board of India hereby makes the following Regulations, namely :— CHAPTER I PRELIMINARY… Read More

ICSI releases Secretarial Standard-3 on “Dividend”

The Institute of Company Secretaries of India (ICSI)  has introduced Secretarial Standard -3 (SS-3) on Dividend. This standard prescribes the set of principles in relation to the declaration and payment of Dividend and matters related thereto. The principles set out in this standard relates to declaration and payment of Dividend on equity as well as preference share capital in accordance… Read More

Facility of transfer of shares to IEPF Authority demat account held in CDSL system

Circular No.: NSDL/CIR/II/22/2017 Date: November 28, 2017 Sub: Facility of transfer of shares to IEPF Authority demat account held in CDSL system Attention of Issuers/RTAs is invited to NSDL Circular No. NSDL/CIR/II/21/2017 dated November 24, 2017 regarding transfer of shares to IEPF Authority. In this context, Issuers/R&T Agents are hereby informed that the facility of… Read More

Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017 amends IB code

  MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 23rd November, 2017/Agrahayana 2, 1939 (Saka) THE INSOLVENCY AND BANKRUPTCY CODE (AMENDMENT) ORDINANCE, 2017 No. 7 OF 2017 Promulgated by the President in the 6Day-eighth Year of the Republic of India. An Ordinance to amend the Insolvency and Bankruptcy Code, 2016. WHEREAS the Insolvency and Bankruptcy… Read More

IBBI Fast Track Insolvency Resolution Process for Corporate Persons (Third Amendment) Regulation notified

INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 7th November, 2017 INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (FAST TRACK INSOLVENCY RESOLUTION PROCESS FOR CORPORATE PERSONS) (THIRD AMENDMENT) REGULATIONS, 2017 No. IBBI/2017-18/GN/REG020.—In exercise of the powers conferred by clause (t) of sub-section (1) of section 196 read with section 240 of the Insolvency and… Read More

IBBI strengthens its Due Diligence Framework under the Insolvency and Bankruptcy Code, 2016

Insolvency and Bankruptcy Board of India (IBBI) strengthens its Due Diligence Framework under the Insolvency and Bankruptcy Code, 2016  Now prior to approval of a Resolution Plan, the Resolution Applicants, including promoters, will be put to a stringent test with respect to their credit worthiness and credibility; Amendments to the IBBI (Insolvency Resolution Process for… Read More

MCA notifies IEPFA (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2017

GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, the 13th October, 2017 G.S.R.  (E).- In exercise of the powers conferred by sub-sections (1), (2), (3), (4), (8), (9), (10) and (11) of section 125, sub-section (6) of section 124 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government… Read More

IBBI invites public comments on draft rules of Insolvency Resolution Process for Individuals and Firms by 31.10.2017

Insolvency and Bankruptcy Board of India 9 th October, 2017 INVITATION OF PUBLIC COMMENTS  IBBI invites public comments on: (i) draft Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Individuals and Firms) Rules, 2017, and (ii) draft Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Individuals and Firms) Regulations,… Read More

PM addresses Company Secretaries at the inauguration of the golden jubilee year of ICSI

The Prime Minister, Shri Narendra Modi, today addressed Company Secretaries at the inauguration of the Golden Jubilee Year of ICSI – the Institute of Company Secretaries of India. On this occasion, the Prime Minister congratulated all those associated with ICSI. He said he is happy to be among those who are responsible for ensuring that… Read More

Non-banking institution carrying “the business of a peer to peer lending platform” to be a NBFC

RESERVE BANK OF INDIA (Department of Non-Banking Regulation) NOTIFICATION Mumbai, the 24th August, 2017 No. DNBR. 045/CGM (CDS)-2017.—The Reserve Bank of India, on being satisfied that it is necessary to do so, in exercise of the powers conferred on it by sub-clause (iii) of clause (f) of section 45-I of the Reserve Bank of India… Read More

Comparative analysis of existing SS-1 with revised SS-1

COMPARATIVE ANALYSIS Article No. REVISED SS-1 (w.e.f. October 01, 2017) EXISTING SS-1 (w.e.f. July 01, 2015) 1.2.2 A Meeting may be convened at any time and place, on any day. A Meeting may be convened at any time and place, on any day, excluding a National Holiday. 1.2.2 (No such Provision) A Meeting adjourned for want of… Read More

Department of Financial Services advises all Banks to put restrictions on bank accounts of “Struck Off ” Companies

Department of Financial Services advises all Banks to take immediate steps to put restrictions on bank accounts of over two lakh 'struck off' companies  Government has stepped up decisive action against companies falling within the ambit of Section 248 of the Companies Act. The names of 2,09,032 companies have been struck off from the Register… Read More

MCA designates special court in Bihar for trial of offences with 2 or more years imprisonment

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 31st August, 2017 S.O. 2872(E).—In exercise of the powers conferred by sub-section (1) of section 435 of the Companies Act, 2013 (18 of 2013), the Central Government, with the concurrence of the Chief Justice of the High Court of Judicature at Patna, hereby designates the following Court… Read More

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