Punishment for wilful and material omissions from statements relating to affairs of corporate debtor Where an officer of the corporate debtor makes any material and wilful omission in any statement relating to the affairs of the corporate debtor, he shall be punishable with imprisonment for a term which shall not be less than three years but which may extend to […]
Punishment for falsification of books of corporate debtor On and after the insolvency commencement date, where any person destroys, mutilates, alters or falsifies any books, papers or securities, or makes or is in the knowledge of making of any false or fraudulent entry in any register, books of account or document belonging to the corporate debtor with intent to defraud
Punishment for misconduct in course of corporate insolvency resolution process (1) On or after the insolvency commencement date, where an officer of the corporate debtor — (a) does not disclose to the resolution professional all the details of property of the corporate debtor, and details of transactions thereof, or any such other information as the resolution professional may require; or (b) does not deliver to the resolution professional all or part
Punishment for transactions defrauding creditors 1[If] an officer of the corporate debtor or the corporate debtor– (a) has made or caused to be made any gift or transfer of, or charge on, or has caused or connived in the execution of a decree or order against, the property of the corporate debtor; (b) has concealed or removed any part of the property of the corporate debtor within two months before the date
Punishment for concealment of property. (1) Where any officer of the corporate debtor has, – (i) within the twelve months immediately preceding the insolvency commencement date, – (a) wilfully concealed any property or part of such property of the corporate debtor or concealed any debt due to, or from, the corporate debtor, of the value of ten thousand rupees or more; or (b) fraudulently removed any part of the property of
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Union Budget of 2021 amends the Income Tax Act of 1961 (“Act”) to prohibit depreciation on an organization’s goodwill. The Income Tax Act prohibits depreciation on self-generated goodwill. From 01st February 2021, devaluation on utilizing goodwill of an ownership interest will be not being permissible. Goodwill is specifically immune from the ‘Intangible Assets’ group. Furthermore, on
Chhattisgarh e-District is an initiative of the Department of Electronics & Information Technology (DeitY) with the aim of providing of G2G services to the citizens. The e-District portal involves integrated and seamless delivery of citizen services by district administration through automation of workflow, back end digitisation, integration and process redesigning across participating departments for providing
Fraudulent management of corporate debtor during pre-packaged insolvency resolution process. On and after the pre-packaged insolvency commencement date, where an officer of the corporate debtor manages its affairs with the intent to defraud creditors of the corporate debtor or for any fraudulent purpose, the Adjudicating Authority may, on an application by the resolution professional, pass
Proceedings under section 66 (1) Where the Adjudicating Authority passes an order under sub-section (1) or subsection (2) of section 66, as the case may be, it may give such further directions as it may deem appropriate for giving effect to the order, and in particular, the Adjudicating Authority may— (a) provide for the liability of any person under the order to
CA Bhuvnesh Kumar Goyal
Chartered Accountants
cabkgoyal@gmail.com
9971782649
Ph: 9971782649
E: cabkgoyal@gmail.com
