discharge order. (1) The bankruptcy trustee shall apply to the Adjudicating Authority for a discharge order – (a) on the expiry of one year from the bankruptcy commencement date; or (b) within seven days of the approval of the committee of creditors of the completion of administration of the estates of the bankrupt under section 137, where such approval is obtained prior to the period mentioned in […]
The Ministry of Micro, Small, and Medium Enterprises (MSME) was approved in India in 2006. Enterprises in the manufacturing sector and enterprises in the service sector are the two types of enterprises that can register under the MSME Act. The pillar of strength for the country’s economy is MSME. Micro, small, and medium enterprises are
Taxes can be defined as an obligatory contribution to the Government by individuals or corporations who fall within the tax bracket. Taxes are levied on citizens to generate revenue for commercial ventures, improve the country’s economy, and raise the national standard of living. Litigations on the other hand can be defined as ‘the process of
Telangana State Road Transport Corporation, otherwise known as TSRTC, is a state-owned Transport Company dedicated to providing transportation services within the newly formed Indian state of Telangana. After getting separated from the State of Andra Pradesh, the Telangana government first planned to initiate its own State Road Transportation called TSRTC. Currently, TSRTC serves about 9.2 million passengers
The acronym RERA stands for Real Estate Regulatory Authority (“RERA”) which is established under the Real Estate (Regulation & Development) Act (“Act”). This Act was introduced in the year 2016 to regularise the problems existing in the real estate sector. The Act will be implemented at the State level, and the governing authorities are responsible
Completion of administration (1) The bankruptcy trustee shall convene a meeting of the committee of creditors on completion of the administration and distribution of the estate of the bankrupt in accordance with the provisions of Chapter V. (2) The bankruptcy trustee shall provide the committee of creditors with a report of the administration of the estate of the bankrupt in the meeting of the said committee. (3) The committee of
Administration and distribution of estate of bankrupt The bankruptcy trustee shall conduct the administration and distribution of the estate of the bankrupt in accordance with the provisions of Chapter V. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration
Voting rights of creditors (1) Every creditor mentioned in the list under section 132 or his proxy shall be entitled to vote in respect of the resolutions in the meeting of the creditors in accordance with the voting share assigned to him. (2) The resolution professional shall determine the voting share to be assigned to each creditor in the manner specified by the Board. (3) A creditor shall not be entitled to
Conduct of meeting of creditors (1) The bankruptcy trustee shall be the convener of the meeting of the creditors summoned under section 133. (2) The bankruptcy trustee shall decide the quorum for the meeting of the creditors, and conduct the meeting only if the quorum is present. (3) The following business shall be conducted in the meeting of the creditors
Summoning of meeting of creditors (1) The bankruptcy trustee shall, within twenty-one days from the bankruptcy commencement date, issue a notice for calling a meeting of the creditors, to every creditor of the bankrupt as mentioned in the list prepared under section 132. (2) The notices issued under sub-section (1) shall – (a) state the date of the meeting of the creditors, which
CA Bhuvnesh Kumar Goyal
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