Withdrawal of application admitted under section 7, 9 or 10. – The Adjudicating Authority may allow the withdrawal of application admitted under section 7 or section 9 or section 10, on an application made by the applicant with the approval of ninety per cent. voting share of the committee of creditors, in such manner as may be specified.] Amendment 1Ins. by Act No. 26 of […]
Time-limit for completion of insolvency resolution process (1) Subject to sub-section (2), the corporate insolvency resolution process shall be completed within a period of one hundred and eighty days from the date of admission of the application to initiate such process. (2) The resolution professional shall file an application to the Adjudicating Authority to extend the period of the
Disposal of applications under section 54C and under section 7 or section 9 or section 10. (1) Where an application filed under section 54C is pending, the Adjudicating Authority shall pass an order to admit or reject such application, before considering any application filed under section 7 or section 9 or section 10 during the pendency of such application under section 54C,
Persons not entitled to make application The following persons shall not be entitled to make an application to initiate corporate insolvency resolution process under this Chapter, namely: – (a) a corporate debtor undergoing a corporate insolvency resolution process 1[or a pre-packaged insolvency resolution process]; or 2[(aa) a financial creditor or an operational creditor of a corporate debtor undergoing a
Filing an Appeal before Commissioner of Income Tax (Appeals), Orders Which Are Appealable by Assessee before Commissioner of Income-tax (Appeals), Fees For Filing Appeal Before CIT (Appeals) and Documents To Be Submitted for Appeal before Commissioner of Income-tax (Appeals). Any person or an assessee who is aggrieved by an order of an Assessing Officer (AO),
Suspension of initiation of corporate insolvency resolution process. Notwithstanding anything contained in sections 7, 9 and 10, no application for initiation of corporate insolvency resolution process of a corporate debtor shall be filed, for any default arising on or after 25th March, 2020 for a period of six months or such further period, not exceeding one year from such
The applicability of RCM on renting vehicles has helped small service providers with improved liquidity by reducing their GST compliance. Paying GST on forward charge was not possible as they received payment for their services after several months. It was decided in the 37th GST Council Meeting to put the supply of renting of motor
Unique Account Number, allocated by EPFO, serves as a single id for multiple member ID that has been given to an individual by various establishments. Every Employee Provident Fund (EPF) Scheme beneficiary is allocated a Universal Account Number (UAN). This 12 digit number permits an employee to connect all the PF accounts across different organisations and access them
Initiation of corporate insolvency resolution process by corporate applicant (1) Where a corporate debtor has committed a default, a corporate applicant thereof may file an application for initiating corporate insolvency resolution process with the Adjudicating Authority. (2) The application under sub-section (1) shall be filed in such form, containing such particulars and in such manner and accompanied with such fee as
Application for initiation of corporate insolvency resolution process by operational creditor (1) After the expiry of the period of ten days from the date of delivery of the notice or invoice demanding payment under sub-sections (1) of section 8, if the operational creditor does not receive payment from the corporate debtor or notice of the dispute under subsection (2) of section 8, the operational creditor may file an application
CA Bhuvnesh Kumar Goyal
Chartered Accountants
cabkgoyal@gmail.com
9971782649
Ph: 9971782649
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