TaxCorp Corporate Laws

Corporate Laws Highlights

11-05-2023 (2023) TaxCorp(CL) 28866 (MADRAS)

It is relevant to mention herein that when the applicant Tungbhadra Sugar Works Limited, being a third party, was not impleaded as a party respondent in the proceedings before the Supreme Court, the applicant,…

03-05-2023 (2023) TaxCorp(CL) 28865 (DELHI)

The learned SPP for the CBI has now taken a plea per proviso to sub- Section 5 Section 128 of the Companies Act they have the power to ask the petitioner to provide the books of account prior to the period…

25-05-2023 (2023) TaxCorp(CL) 28864 (NCLT)

As provided in clause 4, a sum of Rs.2,23,00,000 is to be paid on the final execution of the Consent Terms immediacy and the balance Rs. five crores was to be paid in five equal instalments of Rs. one…

26-04-2023 (2023) 238 Comp Cas 258 (NCLT) : (2023) TaxCorp(CL) 28863 (NCLT)

INSOLVENCY RESOLUTION — APPLICATION BY OPERATIONAL CREDITOR - Part IV(2) of the form specifically required the creditor to mention the date of default. The operational creditor had not given the date …

30-01-2023 (2023) 238 Comp Cas 256 (SC) : (2023) TaxCorp(CL) 28862 (SC)

INSOLVENCY RESOLUTION — WITHDRAWAL OF PETITION - The erstwhile promoter could not invoke section 12A of the Insolvency and Bankruptcy Code, 2016 in the absence of requisite concurrence or consent of 90…

05-01-2023 (2023) 238 Comp Cas 239 (NCLT) : (2023) TaxCorp(CL) 28861 (NCLT)

INSOLVENCY RESOLUTION — WITHDRAWAL OF PETITION - When the committee approves a plan and the resolution applicant was prohibited to modify or withdraw from the plan, the same embargo was to be accepted…

27-04-2023 (2023) 238 Comp Cas 227 (SC) : (2023) TaxCorp(CL) 28860 (SC)

WINDING UP — REALISATION OF ASSETS - The auction bidders had neither paid the sale consideration in terms of clause (h) of the guidelines nor furnished the bank guarantee within 15 days of the acceptance…

29-03-2023 (2023) 238 Comp Cas 224 (P&H) : (2023) TaxCorp(CL) 28859 (P&H)

INSOLVENCY RESOLUTION — MORATORIUM - The petition was to be dismissed.

28-07-2022 (2023) 238 Comp Cas 219 (NCLT) : (2023) TaxCorp(CL) 28858 (NCLT)

INSOLVENCY RESOLUTION — PETITION BY OPERATIONAL CREDITOR - Te corporate debtor had failed to make payment of the amount due till date as mentioned in the statutory notice. The condition under section …

10-04-2023 (2023) 238 Comp Cas 218 (SC) : (2023) TaxCorp(CL) 28857 (SC)

INSOLVENCY RESOLUTION — PROOF OF CLAIMS - There was no reason to interfere with the order passed by the Appellate Tribunal.

22-02-2023 (2023) 238 Comp Cas 215 (NCLT) : (2023) TaxCorp(CL) 28856 (NCLT)

INSOLVENCY RESOLUTION — PROOF OF CLAIMS - The resolution plan had been approved by the committee of creditors on August 6, 2020 and the application was filed before the Adjudicating Authority for approval.…

05-12-2022 (2023) 238 Comp Cas 213 (SC) : (2023) TaxCorp(CL) 28855 (SC)

INSOLVENCY RESOLUTION — RESOLUTION PLAN - The Supreme Court did not entertain the writ petitions, since the High Court had left the question of unjust enrichment open and no final adjudication or determination…

07-02-2023 (2023) 238 Comp Cas 154 (SC) : (2023) TaxCorp(CL) 28854 (SC)

INSOLVENCY RESOLUTION — LIQUIDATION - There were no cogent reasons to entertain the appeal. The Appellate Tribunal’s order was to be quashed and the order passed by the Adjudicating Authority was to be…

24-02-2023 (2023) 238 Comp Cas 140 (NCLT) : (2023) TaxCorp(CL) 28853 (NCLT)

INSOLVENCY RESOLUTION — PETITION BY FINANCIAL CREDITOR - The corporate debtor issued debentures in favour of the debenture holder by way of three debenture trust deeds dated August 10, 2015, January 6,…

19-04-2023 (2023) TaxCorp(CL) 28852 (BOMBAY)

Recourse to Sections 529 and 529A of the Act, 1956 becomes imperative. A conjoint reading of the provisions contained in Section 529 and 529A, would indicate that a secured creditor has the option to …

22-05-2023 (2023) TaxCorp(CL) 28851 (NCLT)

Once the appellant was taking a stand that the company was doing business, it was mandatorily required to satisfy the NCLT with, cogent evidence that the company was doing some business or company was…

12-12-2022 (2023) TaxCorp(CL) 28850 (MADRAS)

At the relevant point of time, contravention was considered as an offence. Further, there was no Explanation II, which specifically clarified for the purpose of reckoning in the limit of Directorship …

23-05-2023 (2023) TaxCorp(CL) 28849 (NCLT)

There is no force in the argument of counsel for the Appellant insofar as she has submitted that two emails dated 02.06.2018 and 04.06.2018 cannot be relied upon against the company as well as the Director…

31-01-2023 (2023) TaxCorp(CL) 28848 (DELHI)

The Appellate Court vacated the stay on 14-12-2018 and the decree was executable. However, the petitioner recovered the possession on 22-7-2022. The facts of this case are glaring inasmuch as the petitioner…

15-05-2023 (2023) TaxCorp(CL) 28847 (NCLT)

The Appellants have been reiterating the prayers made in the original CP No. 42/KB/2016 even though in the later applications prayer about reinstatement of A-1 and R-9 as Managing Director and Director…

17-05-2023 Master Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2023/70

Master Circular for Registrars to an Issue and Share Transfer Agents ...

25-05-2023 Circular No. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/79

Model Tripartite Agreement between the Issuer Company, Existing Share Transfer Agent and New Share Transfer Agent as per Regulation 7(4) of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015 ...

23-05-2023 NOTIFICATION No. SEBI/LAD-NRO/GN/2023/130

Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2023 ...

23-05-2023 Circular No. SEBI/HO/MRD/MRD-POD-1/P/CIR /2023/78

Revision in computation of Core Settlement Guarantee Fund in Commodity Derivatives Segment ...

22-05-2023 Circular No. SEBI/HO/DDHS-PoD-2/P/CIR/2023/75

Dematerialization of securities of Hold Cos and SPVs held by Real Estate Investment Trusts (REITs) ...

19-05-2023 Circular No. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/73

Risk disclosure with respect to trading by individual traders in Equity Futures & Options Segment ...

18-05-2023 NOTIFICATION No. S.O. 2228 (E).

Central Government appoints the 18th day of May, 2023 as the date on which the provisions various sections of the Competition (Amendment) Act, 2023 shall come into force ...

16-05-2023 NOTIFICATION No. F. No. R-40007/6/Reg-Meeting/Noti./2023-CCI

Competition Commission of India hereby establishes following regional offices. ...

15-05-2023 NOTIFICATION No. G.S.R. 367(E)

Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2023 ...

15-05-2023 NOTIFICATION No. SEBI/LAD-NRO/GN/2023/129

Securities and Exchange Board of India (Employees' Service) (Amendment) Regulations, 2023 ...

12-05-2023 Circular No. SEBI/HO/IMD/POD-II/CIR/P/2023/0069

Investment in units of Mutual Funds in the name of minor through guardian ...

10-05-2023 NOTIFICATION No. G.S.R. 354 (E)

Application for removal of name, before ROC - to be filed only after filing of pending / overdue Financial Statements and Annaul Returns - Companies (Removal of Names of Companies from the Register of Companies) Second Amendment Rules, 2023 ...

10-05-2023 Circular No. SEBI/HO/MRD/MRD-PoD-1/P/CIR/2023/68

Direct Market Access (DMA) to SEBI registered Foreign Portfolio Investors (FPIs) for participating in Exchange Traded Commodity Derivatives (ETCDs) ...

09-05-2023 Circular No. SEBI/HO/DDHS/DDHS-POD1/CIR/P/2023/67

Registration with the FINNET 2.0 system of Financial Intelligence Unit – India (FIU-India) ...

05-05-2023 Circular No. SEBI/HO/MRD/TPD/P/CIR/2023/65

Testing Framework for the Information Technology (IT) systems of the Market Infrastructure Institutions (MIIs) ...

04-05-2023 Circular No. SEBI/HO/DDHS/DDHS_Div1/P/CIR/2023/66

Additional requirements for the issuers of transition bonds ...

03-05-2023 Circular No. SEBI/HO/DDHS/DDHS_Div1/P/CIR/2023/64

Introduction of Legal Entity Identifier (LEI) for issuers who have listed and/ or propose to list non-convertible securities, securitised debt instruments and security receipts ...

26-04-2023 No. CORRIGENDUM

Corrigendum - Competition (Amendment) Act, 2023 ...

26-04-2023 Circular No. SEBI/HO/MIRSD/MIRSD-SEC-5/P/CIR/2023/062

Procedure for implementation of Section 12A of the Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005 – Directions to stock exchanges and registered intermediaries ...

25-04-2023 Circular No. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/061

Bank Guarantees (BGs) created out of clients’ funds ...