Last Date for Valuation by Persons other than Registered Valuers

MCA has issued the Companies (Registered Valuers and Valuation) Third Amendment Rules, 2018 on 25th September, 2018, which can be accessed here: http://mca.gov.in/Ministry/pdf/CompaniesThirdAmendment_25092018.pdf The last date for valuation by persons other than registered valuers as given in Rule 11 – Transitional Arrangement – is extended upto 31st January, 2019 from the present deadline of 30th …

Amendments in CSR provisions – Section 135

MCA has announced the commencement of amendments to CSR provisions with effect from 19th September, 2018. This announcement can be accessed from: http://www.mca.gov.in/Ministry/pdf/CompaniesAmendAct2017_19092018.pdf The following are the major amendments: Changes relating to CSR. CSR provisions shall apply only if the conditions are met during the immediately preceding financial year. Before amendment, read with the Rules, …

Amendments in CIRP Regulations – Timelines, authorised representatives and Withdrawal of Application

IBBI (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2018 IBBI has notified that the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2018 vide Notification dated 3rd July, 2018 applicable to corporate insolvency resolution processes (CIRPs) commencing on or after the  date of publication in the …

IBBI Circulars – July-Sep 2018

Circular on Voting in the Committee of Creditors IBBI has issued a circular No. IBBI/CIRP/018/2018 dated 14th September, 2018 on the subject on voting in the committee of creditors (CoC), which can be accessed here: http://ibbi.gov.in/webadmin/pdf/legalframwork/2018/Sep/Circular-Voting%20in%20the%20Committee%20of%20Creditors_2018-09-14%2018:32:15.pdf The circular has been issued in response to the query whether a financial creditor who has not yet been …

Disqualification of Directors – Madras HC sets aside order of ROC

The analysis of the judgment of the Hon’ble High Court of Judicature at Madras dated 3rd August, 2018 in the case of Bhagavan Das Dhananjaya Das v. Union of India & others is an important one for all professionals to learn what direction this may take in the future. A copy of this judgment can …