Definitions In this Part, unless the context otherwise requires, – (1) “Adjudicating Authority”, for the purposes of this Part, means National Company Law Tribunal constituted under section 408 of the Companies Act, 2013 (18 of 2013); (2) “auditor” means a chartered accountant certified to practice as such by the Institute of Chartered Accountants of India under section 6 of […]
Application of this Part (1) This Part shall apply to matters relating to the insolvency and liquidation of corporate debtors where the minimum amount of the default is one lakh 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 crore rupees. 1[Provided further that the Central
Definitions In this Code, unless the context otherwise requires, – (1) “Board” means the Insolvency and Bankruptcy Board of India established under sub-section (1) of section 188; (2) “bench” means a bench of the Adjudicating Authority; (3) “bye-laws” mean the bye-laws made by the insolvency professional agency under section 205; (4) “charge” means an interest or lien created on the property or assets of
Application The provisions of this Code shall apply to— (a) any company incorporated under the Companies Act, 2013 (18 of 2013) or under any previous company law; (b) any other company governed by any special Act for the time being in force, except in so far as the said provisions are inconsistent with the provisions of such
Short title, extent and commencement NO. 31 of 2016 [28th May, 2016] [Amended Upto 04-04-2021] An Act to consolidate and amend the laws relating to reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximization of value of assets of such persons, to promote entrepreneurship, availability of credit and
The compensation of Executive and Non-Executive Directors has traditionally been one of the most thoughtful and contentious corporate governance topics. The subject has gained in significance since it affects the company’s cash outflow, the computation of net profits, the disclosure of information to shareholders, and the approval of Directors, shareholders, and the Remuneration Committee. All
The Commissioner of Income-Tax (Appeals) is the first appellate authority and the Income Tax Appellate Tribunal (ITAT) is the second appellate authority. Appeal to the ITAT can be filed by any of the aggrieved party either by the taxpayer or by the Assessing Officer.The ITAT is constituted by the Central Government and functions under the
Conversion From Unlisted Public Company Into Limited Liability Partnership 1. Interpretation .(1) In this Schedule, unless the context otherwise requires, (a) company means an unlisted public company; (b) convert, in relation to a company converting into a limited liability partnership, means a transfer of the property, assets, interests, rights, privileges, liabilities, obligations and the undertaking of the company
Conversion From Private Company Into Limited Liability Partnership Schedule 3 of LLP Act, 2008 provides for Conversion from Private Company into Limited Liability Partnership. Below are the simplified explanation of the provisions of Schedule 3 of LLP Act, 2008 Definitions Company: A private company as defined in the Companies Act, 1956. Convert: Transferring everything from
Conversion From Firm Into Limited Liability Partnership 1. Interpretation .In this Schedule, unless the context otherwise requires, (a) firm means a firm as defined in section 4 of the Indian Partnership Act, 1932 (9 of 1932); (b) convert, in relation to a firm converting into a limited liability partnership, means a transfer of the property, assets, interests, rights, privileges, liabilities, obligations and
CA Bhuvnesh Kumar Goyal
Chartered Accountants
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