The Shop and Establishment Act regulates the shops and commercial establishments operating within the state. Every state has its own Shop and Establishment Act (“Act”). However, the general provisions of the Act are the same in all states. The Labour Department of the respective states implements the Shop and Establishment Act. Shops are generally defined under the Act as the premises where the selling […]
Conduct of meeting of creditors (1) The meeting of the creditors shall be conducted in accordance with the provisions of this section and sections 109, 110 and 111. (2) In the meeting of the creditors, the creditors may decide to approve, modify or reject the repayment plan. (3) The resolution professional shall ensure that if modifications are suggested by the creditors, consent
Taxes collected from citizens are the foundation of the Indian economy. NRI taxation under the Indian Income Tax Act, 1961 applies to those earning income outside the home country. The income tax rules and perks allowed to them are drastically different from those applicable to resident Indians. The income of a non-resident Indian (NRI) earned
Digital India Program is a programme launched by Honourable Prime Minister Narendra Modi to promote digital mediums and technology across the nation. As an implementation step of the Digital India Programme, the Central Government started Common Services Centres (CSC) throughout the country. This article presents the services that are rendered by the Digital Seva Common
Summoning of meeting of creditors (1) The resolution professional shall issue a notice calling the meeting of the creditors at least fourteen days before the date fixed for such meeting. (2) The resolution professional shall send the notice of the meeting to the list of creditors prepared under section 104. (3) The notice sent under sub-section (1) shall state the
Report of resolution professional on repayment plan (1) The resolution professional shall submit the repayment plan under section 105 along with his report on such plan to the Adjudicating Authority within a period of twenty-one days from the last date of submission of claims under section 102. (2) The report referred in sub-section (1) shall include that- (a) the repayment plan is in compliance with the provisions of
Repayment plan (1) The debtor shall prepare, in consultation with the resolution professional, a repayment plan containing a proposal to the creditors for restructuring of his debt s or affairs. (2) The repayment plan may authorise or require the resolution professional to – (a) carry on the debtor’s business or trade on his behalf or in his name; or (b) realise the
Preparation of list of creditors (1) The resolution professional shall prepare a list of creditors on the basis of – (a) the information disclosed in the application filed by the debtor under section 94 or 95, as the case may be; (b) claims received by the resolution professional under section 102. (2) The resolution professional shall prepare the list mentioned in sub-section (1) within thirty days from
Registering of claims by creditors (1) The creditors shall register claims with the resolution professional by sending details of the claims by way of electronic communications or through courier, speed post or registered letter. (2) In addition to the claims referred to in sub-section (1), the creditor shall provide to the resolution professional, personal information and such particulars as may be prescribed. Practice area’s of B K
Public notice and claims from creditors (1) The Adjudicating Authority shall issue a public notice within seven days of passing the order under section 100 inviting claims from all creditors within twenty- one days of such issue. (2) The notice under sub-section (1) shall include– (a) details of the order admitting the application; (b) particulars of the resolution professional with whom the claims are to
CA Bhuvnesh Kumar Goyal
Chartered Accountants
cabkgoyal@gmail.com
9971782649
Ph: 9971782649
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