What is the Insolvency and Bankruptcy Code (IBC)?
What is the Insolvency and Bankruptcy Code (IBC)? The Insolvency and Bankruptcy Code, 2016 (IBC), is a comprehensive and consolidated framework enacted by the Government of India to address insolvency and bankruptcy issues in a time-bound and efficient manner. Before IBC, insolvency laws in India were scattered across multiple legislations, leading to delays, inefficiencies, and […]
HOW TO FILE A CASE BY MSME FOR RECOVERY OF DELAYED PAYMENTS
HOW TO FILE A CASE BY MSME FOR RECOVERY OF DELAYED PAYMENTS INTRODUCTION The Micro, Small, and Medium Enterprises (MSME) sector is vital to the Indian economy, contributing significantly to GDP and employment. However, delayed payments often cause severe cash flow problems for MSMEs. To address this issue, the Ministry of MSME launched the MSME […]
Personal Guarantor to Corporate Debtor: A Comprehensive Overview
Personal Guarantor to Corporate Debtor: A Comprehensive Overview INTRODUCTION A personal guarantor to a corporate debtor is an individual who pledges their personal assets to secure a loan or credit facility extended to a corporate entity. Often a director, promoter, or stakeholder of the company, the guarantor ensures that in case the corporate debtor defaults […]
Legal Framework Of Voluntary Liquidation Of Corporate Persons
Legal Framework Of Voluntary Liquidation Of Corporate Persons INTRODUCTION The process of voluntary liquidation for corporate entities in India is governed by Section 59 of the Insolvency and Bankruptcy Code (IBC) 2016, alongside the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017. These laws provide a comprehensive framework for Liquidation of the […]
Shop and Establishment Registration: Your Guide to Compliance
Winding Up Of A Company By A Tribunal – Analysis INTRODUCTION Under the Companies Act, 2013, Chapter XX governs the winding-up process, which involves closing a company’s operations, settling its liabilities, and distributing any remaining assets to its stakeholders. Section 270 bifurcates winding up into two modes: by the Tribunal and voluntary winding up. Sections […]
Shop and Establishment Registration: Your Guide to Compliance
Shop and Establishment Registration: Your Guide to Compliance Shop and Establishment registration is essential for businesses to operate legally while ensuring compliance with state labour laws. This registration certifies that your business adheres to state-specific regulations and safeguards employee rights. Every establishment requires Shop and Establishment Registration. What is Shop and Establishment Registration? This registration […]
Rebate Under Section 87A: Updated Rules and Impact on Taxpayers
Rebate Under Section 87A: Updated Rules and Impact on Taxpayers Overview of Rebate u/s 87A Rebate under Section 87A of the Income Tax Act provides financial relief to taxpayers whose total income does not exceed a specified limit. Eligible taxpayers can reduce their tax liability up to a maximum specified amount based on their total […]
Small Company under Companies Act, 2013: Definition, Benefits, and Compliance Requirements
Small Company under Companies Act, 2013: Definition, Benefits, and Compliance Requirements The Companies Act, 2013 introduced the concept of a Small Company to ease the compliance burden on smaller entities and promote the ease of doing business in India. This classification allows such companies to focus more on their growth and less on stringent legal formalities. However, […]
Appointment of a Company Secretary Under the Companies Act, 2013: A Detailed Guide
Appointment of a Company Secretary Under the Companies Act, 2013: A Detailed Guide The Companies Act, 2013 governs corporate governance and compliance in India, with the Company Secretary (CS) playing a crucial role. This blog provides a detailed understanding of the appointment process, qualifications, roles, and legal requirements for appointing a Company Secretary, including the relevant sections and […]
Unlock Tax Savings: A Complete NRI Guide to Lower or NIL TDS Certificates for Property Sales
The Indian government is actively engaging with the private equity and venture capital sectors to discuss the taxation of fund managers,
