Cost management is the process of planning and controlling the costs associated with running a business. It includes collecting, analyzing and reporting cost information to more effectively budget, forecast and monitor costs. Cost management practices can be applied to specific projects or to the company’s overall operating model. Cost management typically focuses on generating savings […]
Adjudicating Authority for individuals and partnership firms (1) Subject to the provisions of section 60, the Adjudicating Authority, in relation to insolvency matters of individuals and firms shall be the Debt Recovery Tribunal having territorial jurisdiction over the place where the individual debtor actually and voluntarily resides or carries on business or personally works for gain and can entertain
Section 241-246 of the Companies Act, 2013 lays down the provisions to effectively deal with oppressing and mismanagement in a company. Corporate democracy finds its roots in the concept of majority rule. The principle of majority originated in the rule of Foss v Harbottle which provided that the individual shareholders have no cause of action in law
The Rajasthan Government has launched “Jan Soochna Portal (JSP)” for quick access to information pertaining to 13 Government Departments on a single platform. It is aimed at easing access to information for the beneficiaries of welfare schemes. This portal has been established to facilitate citizen-centric services under a single portal. The portal provides a host
Priority of payment of debt s (1) Notwithstanding anything to the contrary contained in any law enacted by the Parliament or the State Legislature for the time being in force, in the distribution of the final dividend, the following debt s shall be paid in priority to all other debt s — (a) firstly, the costs
claims of creditors (1) A creditor who has not proved his debt before the declaration of any dividend is not entitled to disturb, by reason that he has not participated in it, the distribution of that dividend or any other dividend declared before his debt was proved, but – (a) when he has proved the debt , he shall be entitled
Final dividend (1) Where the bankruptcy trustee has realised the entire estate of the bankrupt or so much of it as could be realised in the opinion of the bankruptcy trustee, he shall give notice – (a) of his intention to declare a final dividend; or (b) that no dividend or further dividend shall be declared. (2) The notice under
Distribution of property (1) The bankruptcy trustee may, with the approval of the committee of creditors, divide in its existing form amongst the creditors, according to its estimated value, any property in its existing form which from its peculiar nature or other special circumstances cannot be readily or advantageously sold. (2) An approval under sub-section (1) shall be sought by
Distribution of interim dividend (1) Whenever the bankruptcy trustee has sufficient funds in his hand, he may declare and distribute interim dividend among the creditors in respect of the bankruptcy debts which they have respectively proved. (2) Where the bankruptcy trustee has declared any interim dividend, he shall give notice of such dividend and the manner in which it is proposed
Mutual credit and set-off (1) Where before the bankruptcy commencement date, there have been mutual dealings between the bankrupt and any creditor, the bankruptcy trustee shall – (a) take an account of what is due from each party to the other in respect of the mutual dealings and the sums due from one party shall be set off against the
CA Bhuvnesh Kumar Goyal
Chartered Accountants
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9971782649
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