With the expansion of the markets, instruments used in order to transfer money are being used more than ever. One of the most common instruments used is the ‘Cheque’ which may be used in various transactions such as the payment...
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Trade & Commerce takes place in India on a daily Outstanding basis, at various levels and different avenues. However, it is important to keep in mind that in a lot of cases, there may be a default in this seemingly...
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While the Insolvency and Bankruptcy Code, 2016 is just a couple of years old, the IBBI has commenced the individual insolvency process under the IBC as well. The Chairman of the IBBI, Ms Sahoo stated that this process has been...
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The Insolvency and Bankruptcy Code, 2016 not only enables the insolvency proceedings of the insolvents but also contains provisions for solvent entities that want to themselves surrender their and refrain from carrying on their business. This article deals with the...
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The recent conflicting decisions of various benches of the NCLT in India have created ambiguity and confusion as to whether sole proprietorships are covered under Section 3 (23) of the IBC as “persons”, a derivative which determines if they can...
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Unlike English Law where registration of partnerships firms is compulsory and a penalty is imposed upon registration, the Indian Partnership Act, 1932 doesn’t make registration compulsory. However, the legal effects of registration and non-registration vary. This article seeks to examine...
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The Insolvency and Bankruptcy Code, 2016 has been revolutionary for consolidating and bringing forth a single law that governs insolvency and bankruptcy matters. It is segmented differently for the two categories, namely corporates, and individuals and firms. As regards filing...
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The concept of a One Person Company (OPC) is such whose inclusion in the Companies Act, 2013, revolutionized the Corporate field. Section 2(62) of the Act describes it as a company that has only one person as its member. One...
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At times money extended to a company or an individual becomes irrecoverable. And various provisions in the law provide for the recovery of such debts. Some of these important provisions that come to the rescue of creditors are listed below: Recovery...
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