IBBI Circular: Managing Unclaimed Dividends and Proceeds Recent circular issued by IBBI in respect of deposit and withdrawal of unclaimed dividends and / or undistributed proceeds in accordance with Regulation 46 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 (Liquidation Regulations). Regulation 46 of the Insolvency and Bankruptcy Board of India […]
Insolvency proceedings does not prevent Corporate Debtor from filing an application under Section 11 of Arbitration and Conciliation Act, 1996 against another party – Godavari Projects (J.V) Vs. Union of India – Delhi High Court. In the case of Godavari Projects (J.V) Vs. Union of India, heard in the Delhi High Court, the proceedings revolved […]
PREPACK INSOLVENCY WHY IS PREPACK INSOLVENCY A PANACEA FOR MICRO, SMALL AND MEDIUM CORPORATES. The Scheme in brief: • The borrower has to be a corporate body and must have committed default of a minimum Rs.10 lacs and maximum Rs.1 Cr. • Pass a Special Resolution that the company will file an application before NCLT […]
