Part 6 corporate law series
Continue from last Blog ...............
Part - 1 corporate Law Series.
https://www.jayprakashsomani.com/blog-detail/Corporate%20Laws
Part - 2 corporate Law Series.
https://www.jayprakashsomani.com/blog-detail/part%202%20corporate%20law%20series
Part - 3 corporate Law Series.
https://www.jayprakashsomani.com/blog-detail/Part%203%20corporate%20law%20serie
Part - 3 corporate Law Series.
https://www.jayprakashsomani.com/blog-detail/Part%203%20corporate%20law%20series
Part - 4 corporate Law Series.
https://www.jayprakashsomani.com/blog-detail/Part%205%20corporate%20law%20series
41. 19/11/2024
'Corporate Laws' Series of Blog on “INSOLVENCY AND BANKRUPTCY CODE, 2016”
By
Jayprakash Bansilal Somani, Advocate Supreme Court of India & IP
Continue from last Tuesday........
Dear readers in earlier blog we have given Details of 4 New Labour Laws which is not notified yet. From this blog we are providing you Information about Insolvency and Bankruptcy Code, 2016.
So, now will see details about Information about Insolvency and Bankruptcy Code, 2016. This Act was enacted on 28th May, 2016. This Act consolidate and amend the laws relating to reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximisation of value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders including alteration in the order of priority of payment of Government dues and to establish an Insolvency and Bankruptcy Board of India, and for matters connected therewith or incidental thereto. This Act Divided into 5 Parts, Contains 7 Chapters 255 Sections 12 Schedules .
Part 1 is related to Preliminary with Sec 1 to 3. Part 2 is related to Insolvency Resolution And Liquidation For Corporate Persons with Sec 4 to 77A, Under Part 2 it Contains Chapter 3A which is related to Pre-Packaged Insolvency Resolution Process with Sec 54A to 77A. Part 3 is related to Insolvency Resolution And Bankruptcy For Individuals And Partnership Firms with Sec 78 to 187. Part 4 is related to Regulation Of Insolvency Professionals, Agencies And Information Utilities. In this Part 4 Chapter 1 is related to The Insolvency And Bankruptcy Board Of India with sec 188 to 195. Chapter 2 is related to Powers And Functions Of The Board with Sec 196 to 198. Chapter 3 is related to Insolvency Professional Agencies with Sec 199 to 205. Chapter 4 is related to Insolvency Professionals with Sec 206 to 206 to 208. Chapter 5 is related to Information Utilities with Sec 209 to 216. Chapter 6 is related to Inspection and Investigation with Sec 217 to 220. Chapter 7 is related to Finance, Accounts and Audits with Sec 221 to 223. Part 5 is related to Miscellaneous Part with Sec 224 to 255.
.…….. Continue on Next Tuesday.
Note:- List is completed now. From next blog we will provide brief information of concern laws..
Assisted By:- Adv Shruti Kriti & Pooja Rai
www.jayprakashsomani.com Call: PA 9322188701.
42. 26/11/2024
'Corporate Laws' Series of Blog on “INSOLVENCY AND BANKRUPTCY CODE, 2016”
By
Jayprakash Bansilal Somani, Advocate Supreme Court of India & IP
Continue from last Tuesday........
Insolvency and Bankruptcy Code, 2016. This Act Divided into 5 Parts, Contains 7 Chapters 255 Sections 12 Schedules . 1st Schedule Omitted. 2nd Schedule is Amendment to the Central Excise Act, 1944. 3rd Schedule is Amendment to the Income-tax Act, 1961. 4th Schedule is Amendment to the Customs Act, 1962. 5th Schedule is Amendment to the Recovery of Debts due to Banks and Financial Institutions Act, 1993. 6th Schedule is Amendment to The Finance Act, 1994. 7th Schedule is Amendment to the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. 8th Schedule is Amendment to the Sick Industrial Companies (Special Provisions) Repeal Act, 2003. 9th Schedule is Amendment to the Payment and Settlement Systems Act, 2007. 10th Schedule is Amendment to the Limited Liability Partnership Act, 2008. 11th Schedule is Amendments to the Companies Act, 2013. 12th Schedule is Acts For The Purposes Of Clause (D) Of Section 29a which is related to :-
(1) The Foreign Trade (Development and Regulation) Act, 1922 (22 of 1922);
(2) The Reserve Bank of India Act, 1934 (2 of 1934);
(3) The Central Excise Act, 1944 (1 of 1944);
(4) The Prevention of Food Adulteration Act, 1954 (37 of 1954);
(5) The Essential Commodities Act, 1955 (10 of 1955);
(6) The Securities Contracts (Regulation) Act, 1956 (42 of 1956);
(7) The Income-tax Act, 1961 (43 of 1961);
(8) The Customs Act, 1962 (52 of 1962);
(9) The Water (Prevention and Control of Pollution) Act, 1974 (6 of 1974);
(10) The Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 (52 of 1974);
(11) The Air (Prevention and Control of Pollution) Act, 1981 (14 of 1981);
(12) The Sick Industrial Companies (Special Provisions) Act, 1985 (1 of 1986);
(13) The Environment (Protection) Act, 1986 (29 of 1986);
(14) The Prohibition of Benami Property Transactions Act, 1988 (45 of 1988);
(15) The Prevention of Corruption Act, 1988 (49 of 1988);
(16) The Securities and Exchange Board of India Act, 1992 (15 of 1992);
(17) The Foreign Exchange Management Act, 1999 (42 of 1999);
(18) The Competition Act, 2002 (12 of 2003);
(19) The Prevention of Money-laundering Act, 2002 (15 of 2003);
(20) The Limited Liability Partnership Act, 2008 (6 of 2009);
(21) The Foreign Contribution (Regulation) Act, 2010 (42 of 2010);
(22) The Companies Act, 2013 (18 of 2013) or any previous company law;
(23) The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (22 of 2015);
(24) The Insolvency and Bankruptcy Code, 2016 (31 of 2016);
(25) The Central Goods and Services Tax Act, 2017 (12 of 2017) and respective State Acts imposing State goods and services tax;
(26) Such other Acts as may be notified by the Central Government.
“Insolvency and Bankruptcy Code, 2016” have some Rules as Below:-
1. Insolvency And Bankruptcy (Application To Adjudicating Authority For Bankruptcy Process For Personal Guarantors To Corporate Debtors) Rules, 2019.
2. Insolvency And Bankruptcy (Application To Adjudicating Authority For Insolvency Resolution Process For Personal Guarantors To Corporate Debtors) Rules, 2019.
3. Insolvency And Bankruptcy (Application To Adjudicating Authority) Rules, 2016.
4. Insolvency And Bankruptcy (Insolvency And Liquidation Proceedings Of Financial Service Providers And Application To Adjudicating Authority) Rules, 2019.
5. Insolvency And Bankruptcy (Prepackaged Insolvency Resolution Process) Rules, 2021
6. Insolvency And Bankruptcy Board Of India (Annual Report) Rules, 2018
7. Insolvency And Bankruptcy Board Of India (Form Of Annual Statement Of Accounts) Rules, 2018
8. Insolvency And Bankruptcy Board Of India (Medical Facility To Chairperson And Whole-Time Members) Scheme Rules, 2019
9. Insolvency And Bankruptcy Board Of India (Salary, Allowances And Other Terms And Conditions Of Service Of Chairperson And Members) Rules, 2016.
…..Continue on Next Tuesday.
Note:- List is completed now. From next blog we will provide brief information of concern laws..
Assisted By:- Adv Shruti Kriti & Pooja Rai
www.jayprakashsomani.com Call: PA 9322188701.
30. 26/11/2024
'Corporate Laws' Series of Blog on “LIMITED LIABILITY PARTNERSHIP ACT, 2008"
By
Jayprakash Bansilal Somani, Advocate Supreme Court of India & IP
Continue from last Tuesday........
Limited Liability Partnership Act, 2008. This Act was enacted on 07th January, 2009. This Act make provisions by the Parliament for the formation and regulation of limited liability partnerships and for matters connected therewith or incidental thereto. This Act Contains 14 Chapters 81 Sections 4 Schedules.
1st Chapter related to Preliminary with Sec 1 & 2. 2nd Chapter related to Nature of limited liability partnership with Sec 3 to 10. 3rd Chapter is related to Incorporation of limited liability partnership and matters incidental thereto with Sec 11 to 21. Chapter 4 is related to Partners and their relations with Sec 22 to 25. Chapter 5 is related to Extent and limitation of liability of limited liability partnership and partners with Sec 26 to 31. Chapter 6 is related to Contributions with Sec 32 & 33. Chapter 7 is related to Financial disclosures with Sec 34 to 41. Chapter 8 is related to Assignment and transfer of partnership rights with only Sec 42. Chapter 9 is related to Investigation with Sec 43 to 54. Chapter 10 is related to Conversion into limited liability partnership with Sec 55 to 58. Chapter 11 is related to Foreign limited liability partnerships with only Sec 59. Chapter 12 is related to Compromise, arrangement or reconstruction of limited liability partnerships with Sec 60 to 62. Chapter 13 is related to Winding up and dissolution with Sec 63 to 65. Chapter 14 is related to Miscellaneous part with Sec 66 to 81 (Sec 81 is Omitted).
.…..Continue on Next Tuesday.
Note:- List is completed now. From next blog we will provide brief information of concern laws..
Assisted By:- Adv Shruti Kriti & Pooja Rai
www.jayprakashsomani.com Call: PA 9322188701.
