Application This Part shall apply to matters relating to fresh start, insolvency and bankruptcy of individuals and partnership firms where the amount of the default is not less than one thousand rupees: Provided that the Central Government may, by notification, specify the minimum amount of default of higher value which shall not be more than one lakh rupees. Practice area’s of B […]
A Non-governmental organization (NGO) refers to the organization which is established by a group of people to render their services not with the intentions of profit but with the sole purpose to help the society. The NGO is described as a non-profit making organization in which funds are raised from members, donors or contributors besides from receiving
A share certificate is a document that indicates the ownership of company shares by its shareholder/beholder. It acts as prima facie evidence of the title of the individual holding the shares. When the beholder of the share certificate loses or misplaces the original document, the company will issue a duplicate share certificate. When a person
TNREGINET TNREGINET is the Tamilnadu Government online registration portal. TNREGINET portal eliminates the need for Sub-Registrar office visits for citizens by providing easy access to Government records online. In this article, we look at TNREGINET portal in detail along with the process for obtaining registration on TNREGINET. In India, state governments fix a rate below which
Punishment for offences related to pre-packaged insolvency resolution process (1) Where– (a) a corporate debtor provides any information the application under section 54C which is false in material particulars, knowing it to be false or omits any material fact, knowing it to be material; or (b) a corporate debtor provides any information in the list of claims
Punishment for providing false information in application made by corporate debtor Where- (a) a corporate debtor provides information in the application under section 10 which is false in material particulars, knowing it to be false and omits any material fact, knowing it to be material; or (b) any person who knowingly and wilfully authorised or permitted the furnishing of such information
Punishment for non-disclosure of dispute or 1[payment] of debt by operational creditor. Where- (a) an operational creditor has wilfully or knowingly concealed in an application under section 9 the fact that the corporate debtor had notified him of a dispute in respect of the unpaid operational debt or the full and final 2[payment] of the unpaid operational debt; or (b) any person who knowingly and wilfully authorised or permitted such
Punishment for false information furnished in application Where any person furnishes information in the application made under section 7, which is false in material particulars, knowing it to be false or omits any material fact, knowing it to be material, such person shall be punishable with fine which shall not be less than one lakh rupees, but may extend to
Punishment for contravention of moratorium or the resolution plan (1) Where the corporate debtor or any of its officer violates the provisions of section 14, any such officer who knowingly or wilfully committed or authorised or permitted such contravention shall be punishable with imprisonment for a term which shall not be less than three years, but may extend to five years or
Punishment for false representations to creditors (1) Where any officer of the corporate debtor — (a) on or after the insolvency commencement date, makes a false representation or commits any fraud for the purpose of obtaining the consent of the creditors of the corporate debtor or any of them to an agreement with reference to the affairs of the corporate debtor, during the
CA Bhuvnesh Kumar Goyal
Chartered Accountants
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