Restrictions on bankrupt. (1) A bankrupt, from the bankruptcy commencement date, shall, – (a) not act as a director of any company, or directly or indirectly take part in or be concerned in the promotion, formation or management of a company; (b) without the previous sanction of the bankruptcy trustee, be prohibited from creating any charge on his estate […]
Disqualification of bankrupt (1) The bankrupt shall, from the bankruptcy commencement date, be subject to the disqualifications mentioned in this section. (2) In addition to any disqualification under any other law for the time being in force, a bankrupt shall be disqualified from– (a) being appointed or acting as a trustee or representative in respect of any trust, estate or
Effect of discharge The discharge order under sub-section (2) of section 138 shall release the bankrupt from all the bankruptcy debts: Provided that a discharge shall not – (a) affect the functions of the bankruptcy trustee; or (b) affect the operation of the provisions of Chapter IV and V of Part III: (c) release the bankrupt from any debt incurred by means of fraud or breach of trust to which he was a
discharge order. (1) The bankruptcy trustee shall apply to the Adjudicating Authority for a discharge order – (a) on the expiry of one year from the bankruptcy commencement date; or (b) within seven days of the approval of the committee of creditors of the completion of administration of the estates of the bankrupt under section 137, where such approval is obtained prior to the period mentioned in
The Ministry of Micro, Small, and Medium Enterprises (MSME) was approved in India in 2006. Enterprises in the manufacturing sector and enterprises in the service sector are the two types of enterprises that can register under the MSME Act. The pillar of strength for the country’s economy is MSME. Micro, small, and medium enterprises are
Taxes can be defined as an obligatory contribution to the Government by individuals or corporations who fall within the tax bracket. Taxes are levied on citizens to generate revenue for commercial ventures, improve the country’s economy, and raise the national standard of living. Litigations on the other hand can be defined as ‘the process of
Telangana State Road Transport Corporation, otherwise known as TSRTC, is a state-owned Transport Company dedicated to providing transportation services within the newly formed Indian state of Telangana. After getting separated from the State of Andra Pradesh, the Telangana government first planned to initiate its own State Road Transportation called TSRTC. Currently, TSRTC serves about 9.2 million passengers
The acronym RERA stands for Real Estate Regulatory Authority (“RERA”) which is established under the Real Estate (Regulation & Development) Act (“Act”). This Act was introduced in the year 2016 to regularise the problems existing in the real estate sector. The Act will be implemented at the State level, and the governing authorities are responsible
Completion of administration (1) The bankruptcy trustee shall convene a meeting of the committee of creditors on completion of the administration and distribution of the estate of the bankrupt in accordance with the provisions of Chapter V. (2) The bankruptcy trustee shall provide the committee of creditors with a report of the administration of the estate of the bankrupt in the meeting of the said committee. (3) The committee of
Administration and distribution of estate of bankrupt The bankruptcy trustee shall conduct the administration and distribution of the estate of the bankrupt in accordance with the provisions of Chapter V. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration
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