Disclaimer of leaseholds (1) The bankruptcy trustee shall not be entitled to disclaim any leasehold interest, unless a notice of disclaimer has been served on every interested person and – (a) no application objecting to the disclaimer by the interested person, has been filed with respect to the leasehold interest, within fourteen days of the date on which notice was […]
Notice to disclaim onerous property (1) No notice of disclaimer under section 160 shall be necessary if – (a) a person interested in the onerous property has applied in writing to the bankruptcy trustee or his predecessor requiring him to decide whether the onerous property should be disclaimed or not; and (b) a decision under clause (a) has not been taken by the bankruptcy trustee within seven
Onerous property of bankrupt (1) The bankruptcy trustee may, by giving notice to the bankrupt or any person interested in the onerous property, disclaim any onerous property which forms a part of the estate of the bankrupt. (2) The bankruptcy trustee may give the notice under sub-section (1) notwithstanding that he has taken possession of the onerous property, endeavoured to sell it or has exercised rights
A project report is a comprehensive document that outlines the proposal of a project and its potential for success. It is a crucial document required at every stage of applying for land acquisitions, permits, and licenses for setting up an industry in India. The project report provides a 360-degree view of the project and is
After-acquired property of bankrupt (1) The bankruptcy trustee shall be entitled to claim for the estate of the bankrupt, any after-acquired property by giving a notice to the bankrupt. (2) A notice under sub-section (1) shall not be served in respect of – (a) excluded assets, or (b) any property which is acquired by or devolves upon the bankrupt after a discharge order is passed under section 138. (3)
Corporate fraud is defined as unlawful, misleading activities conducted by a company or a person using highly trained accounting practices to inflate a company’s apparent earnings, which can take years to identify. Furthermore, this article seeks to analyze the causes and impacts of fraud on corporate stakeholders. Corporate fraud consists of illegal, deceptive actions committed
7/12 Extract or Record of Rights is the extract from the land records register held by the Revenue Department of Government of Maharashtra. 7/12 extracts contain complete information about land property in rural areas. While property cards are related to land property in urban areas. 7/12 extract document is an important indicator of the legal
Restrictions on disposition of property (1) Any disposition of property made by the debtor, during the period between the date of filing of the application for bankruptcy and the bankruptcy commencement date shall be void. (2) Any disposition of property made under sub-section (1) shall not give rise to any right against any person, in respect of such property, even if he has
Acquisition of control by bankruptcy trustee (1) The bankruptcy trustee shall take possession and control of all property, books, papers and other records relating to the estate of the bankrupt or affairs of the bankrupt which belong to him or are in his possession or under his control. (2) Where any part of the estate of the bankrupt consists of things in actionable claims,
Delivery of property and documents to bankruptcy trustee The bankrupt, his banker or agent or any other person having possession of any property, books, papers or other records which bankruptcy trustee is required to take possession for the purposes of the bankruptcy process shall deliver the said property and documents to the bankruptcy trustee. Practice area’s of B K Goyal & Co LLP Income
CA Bhuvnesh Kumar Goyal
Chartered Accountants
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