Concept of Personal Guarantors (Promoter) under IBC The concept of ‘guarantee’ as defined in the Indian Contracts Act, 1872 refers to an agreement of assurance made among the debtor, guarantor and creditor. If the debtor fails to repay the debt to the creditor, the burden falls on the guarantor to pay the amount and failing …
All about the 12A Registration & 80G Registration Non profit Orgination are start for good reason, & the govt provides income tax exemptions to help them with raising funds. Now is the time to register your NGO U/s 12A & 80G in order to avail of those advantage for your Non profit Orgination. 80G & …
All about the NBFC (Non-Banking Financial Corporation) It is a company known as Non-Banking Financial Corporation incorporated under the Companies Act 1956 or 2013. As per the section 45– I (C) of the Reserve Bank of India Act, a Company which carries on the business of a financial institution will be a Non-Banking Financial Company. …
Is Insolvency Act a Game Changer? : an Opinions. The IBC 2016, has been in effect for almost a year. It appears to be one of the most important reforms adopted by the government. The power balance between borrowers and creditors has shifted dramatically as a result of the The Insolvency and Bankruptcy Code (IBC). …
Will the Current Boom in Real Estate Continue in 2022? The real estate sector revive and restructured post-COVID-19 pandemic. There are certain changes among people and a trend started to buy a piece of residence, in the urban area. Market is known to follow so many trends at a time but what we saw during …
Changing landscape of real estate in India – The rise of millennials In India, there are more than 400 million millennials, which is more than the whole population of the United States! In our country, millennials aged 25 to 40 have an estimated spending capability of $3.6 billion and account for 1/3rd of the total …
Things to Know about Insolvency & New Insolvency Resolution Process What is Insolvency? Insolvency occurs when an individual or company is unable to satisfy its financial obligations to its creditors as debts become due. It can happen even if the company’s liabilities surpass its assets. In most cases, the Liquidation Value of the stressed asset …
Principles of Preferential Transactions & Speeding Up Insolvency Proceedings When insolvency proceedings are initiated, it became important to stop all distressed companies from making any decisions that could hamper creditors (regarding their recovery). This is important in any context for the success of insolvency proceedings under any regime. For the Indian subcontinent, there is a …
Ways to strike off of Limited Liability Partnership Meaning of LLP? LLP is called as Limited Liability Partnership, it’s a combination of Partnership & Corporation. LLP is a new structure of Business which provides the flexibility of Partnership with advantage of Limited Liability to the company at minimum compliance cost. Benefits/Features of Limited Liability Partnership …
GST officer is not right in taking a stand that they do not have powers to rectify effective date of cancellation of taxpayer’s GST registration: High Court The GST officer is erroneous in asserting that they do not have the powers/authority to change the effective date of the cancellation of a taxpayer’s registration: High Court …