Application for fresh start order (1) When an application is filed under section 80 by a debtor, an interim-moratorium shall commence on the date of filing of said application in relation to all the debt s and shall cease to have effect on the date of admission or rejection of such application, as the case may be. […]
Eligibility for making an application (1) A debtor, who is unable to pay his debt and fulfils the conditions specified in subsection (2), shall be entitled to make an application for a fresh start for discharge of his qualifying debt under this Chapter. (2) A debtor may apply, either personally or through a resolution professional, for a fresh start under this Chapter in respect of his qualifying
Definitions In this Part, unless the context otherwise requires, – (1) “Adjudicating Authority” means the Debt Recovery Tribunal constituted under subsection (1) of section 3 of the Recovery of Debt s Due to Banks and Financial Institution Act, 1993 (51 of 1993); (2) “associate” of the debtor means – (a) a person who belongs to the immediate family of the debtor; (b) a person who is a
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
CA Bhuvnesh Kumar Goyal
Chartered Accountants
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