Insolvency and Bankruptcy Code in India: Case Laws and Regulations, Exams of Company Secretarial Practice

Download Insolvency and Bankruptcy Code in India: Case Laws and Regulations and more Exams Company Secretarial Practice in PDF only on Docsity!

Insolvency

and

Bankruptcy

Online Database

2

Corporate debtor couldn't file appeal through suspended board of directors once

insolvency plea was admitted

The National Company Law Appellate Tribunal held that where an application of financial creditor under

section 7 against corporate debtor was admitted and IRP was appointed, no appeal could be filed by

corporate debtor through its suspended Board of Directors - Shree Ganesh Jewellery House (I) Ltd. v.

Abhishek Stock Broking Services (P.) Ltd. [2018] 93 taxmann.com 46 (NCL-AT)

Applicant was liable to incur expenses of resolution professional under IBC

The National Company Law Appellate Tribunal held that in view of regulation 33(1) applicant who has filed

application under section 7 or 9, is liable to incur expenses of Resolution Professional, which is to be

reimbursed by Committee of Creditors (CoC) to extent same is ratified by CoC. – State Bank of India v. SKC

Retails Ltd. [2018] 93 taxmann.com 4 (NCL-AT)

In absence of any viable resolution plan, corporate debtor - co. was to be liquidated:

NCLT

Where it was unanimously held by Committee of Creditors that there would no purpose served to

keepCorporate Insolvency Resolution Process ('CIRP') to continue and further, no resolution plan satisfying

CoC was forthcoming from any Resolution applicant, liquidation was to be initiated - Super Agri Seeds (P.)

Ltd. v. State Bank of India [2018] 93 taxmann.com 168 (Hyderabad)

NCLT admits insolvency resolution plea by Ericsson against Reliance for defaulting

payment under service agreement

Where petitioner Ericsson filed petition under section 9 against corporate debtor-Reliance for having

defaulted in paying Ericsson to services rendered by it in terms of Managed Services Agreement (MSA) and

there was no dispute in existence in respect to claim Ericsson raised, petitioner proved existence of debt and

default and, therefore, petition was to be admitted - Ericsson India (P.) Ltd. v. Reliance Infra tel Ltd. [2018] 93

taxmann.com 352 (NCLT - Mum.)

Mortgage of JaypeeInfratech land to obtain loan for Jaiprakash Associates was

fraudulent, rules NCLT

In the instant case, the Jaiprakash Associates Ltd. ('JAL') (operational creditor) had transferred ownership of

858 acres of unencumbered land belonging to JaypeeInfratech Ltd. ('JIL') (corporate debtor) to its own

lenders in order to avail further loans. Significantly, these transactions took place around the time JIL's

accounts were declared a non-performing asset (NPA) and continued even after the formation of the joint

lenders' forum without seeking any prior approval from it.

Taxmann's Laws July 2018

InsolvencyInsolvency

andand

Bankruptcy LawBankruptcy Law

Insolvency

and

Bankruptcy Law

Updates

INSOLVENCY & BANKRUPTCY

MODULE

ibc.taxmann.com

Case Laws

• Covering relevant judgments of Supreme Court/High Courts/NCLAT/NCLT on Insolvency and Bankruptcy Code (IBC)
• Also covering winding-up cases under Companies Act, 2013 and Companies Act, 1956

Acts & Rules

Always updated Acts and Rules of IBC. Search the relevant Section and also get access to the related Rules

Commentaries

Complete Commentary on each topic of IBC for thorough understanding of the new law. It also covers Commentaries on NCLT/NCLAT

Top Stories

Get real time updates and analysis of latest developments in IBC

Circulars & Notifications

Covers all Circulars and Notifications issued by the Insolvency & Bankruptcy Board of India

Articles

Read the opinions of Industry experts on burning issues of IBC

FAQs

Various FAQs on the topic to quickly understand the IBC

Corporate Laws Module^ †

(with free Insolvency & Bankruptcy Module) : `7500* † For more details see page 14

• GST @ 18% extra

Yearly Subscription : `4100*

Also available

Website

Online Exam Preperation

INSOLVENCY

&

BANKRUPTCY CODE

Study Material

 Comprehensive digest of all Cases prescribed by IBBI for

Limited Insolvency Examination

 Always updated Acts and Rules on Insolvency &

Bankruptcy Code and Allied Laws

 Complete Examination oriented Guide covering entire

syllabus prescribed by IBBI

Mock Exams

 Mock tests to prepare confidently for the real exams

 Exams are adapted as per IBBI syllabus and pattern

 Covering more than 5,000 MCQs

 Provides the vital statistics on your performance

including areas of improvement

Practice Exams

 Practice Exams allows you to customize the limited

insolvency exam

 You can choose the Act, No. of Questions and difficulty

level of the questions

 Provides the reasoning for correct answers to prepare you

in better way for the real exams

Limited Insolvency Exam

Releasing

Shortly

Price to be disclosed

Guide to

Insolvency

&

Bankruptcy Code

A Comprehensive

Guide to

 Insolvency and

Bankruptcy code

 SARFAESI Act

 DRT Act

 Winding up

V.S.Datey

Price : ` 2100

As amended by Insolvency & Bankruptcy Code

(Amendment) Act 2018

&

Insolvency & Bankruptcy Code (Amendment)

Ordinance 2018

Books

Call your Bookseller/Representative or Log on to taxmann.com/bookstore

Law & Practice relating to

Insolvency

&

Bankruptcy

Code

 Section-wise commentary on Insolvency & Bankruptcy Code

 Section-wise digest of rulings of Supreme Court/High Court/NCLAT/ NCLT  Annotated Text of Insolvency & Bankruptcy Code  Annotation under each Section shows

• Date of enforcement of provisions of Code
• Reference to relevant Rules and Forms
• Allied Laws referred to in provision  Text of relevant Rules given along with text of relevant Section of Companies Act 2013  Text of Rules and Forms prescribed under Insolvency & Bankruptcy Code

Releasing Shortly

Books

Call your Bookseller/Representative or Log on to taxmann.com/bookstore

V.S.Datey

Price : ` 1795

Limited

Insolvency

Examination Guide

 A Complete Examination

oriented Guide. Not just

reproduction of Bare

Acts

 Covers entire syllabus of

Insolvency & Bankruptcy

Board of India

 Covers Summary of all

cases listed by Insolvency

& Bankruptcy Board of

India (Examination)

Books

Call your Bookseller/Representative or Log on to taxmann.com/bookstore

Limited

Insolvency

Examination

Question Bank

More than 5000 topic wise MCQs

covering entire syllabus

Covering:

 Insolvency & Bankruptcy Code

with Rules & Regulations

 Companies Act 2013 & Allied

Laws

 General Awareness

 Finance & Accounts

 Case Laws

 Transactional Case Analysis

 Case summary of NCLT/

NCLAT/High Court/Supreme Court

 Mock Tests

Price : ` 1550

Books

CA. Anjali Choksi

CA. Hema Shah

Call your Bookseller/Representative or Log on to taxmann.com/bookstore

Company Law Module

taxmann.com

• FREE : 3 Daily e-mail Services : Daily Tax & Corporate Laws Digest, Taxmann Daily & GST Daily. † GST @18% extra

 taxmann.com has the largest database on Corporate Laws

 13,000+ Case laws with Headnotes and Digests drafted by professionals

 Access almost all cases reported in all leading journals

 13,300+ Circulars & Notifications

 Always amended database of Acts, Rules, Circulars, Notifications, Master Directions

 3,600+ Experts' Opinions on all important corporate law matters

 All About Companies Act: A unique tool to do research in all connected records in one go.This tool links all the related documents with a relevant Section of the Act.

 All documents have been tagged with various parameters to quickly fetch the relevant records

 Covers more than 17 Commentaries on varied topics of Corporate Laws

 Research Box: Create your personal online library where you can bookmark & save any type of document for a later reference. Sync data from your research box with dropbox.com to access it anywhere.

SUPER SAVER COMBO*

-

† 4 Modules Plan 18, Income Tax + Company Law including Insolvency & Bankruptcy + GST (Including Indirect Tax Module) + Indian Acts with daily updates

- † 5 Modules Plan 22, Income Tax + Company Law including Insolvency & Bankruptcy + GST (Including Indirect Tax Module) + Accounts & Audit + Indian Acts with daily updates

Corporate Laws Module* with All About™ Companies Act

Including Insolvency & Bankruptcy Code Module

†

Subscription : ` 7500

Covering Companies Act,

FEMA, SEBI Laws, Insolvency Laws,

Competition Laws, Banking &

Insurance Laws/Other Corporate Laws

Website

Books

Taxmann App

Always

Stay

Updated

App

DOWNLOAD NOW

Website

taxmann.comtaxmann.comtaxmann.com

A Single Platform to bring together the Power of Knowledge and Artificial Intelligence

Income Tax • International Taxation • GST • Company Law

- Insolvency Law • Accounts & Audit • Indian Acts

Unique Features

Taxmann.com is the only platform which maintains the largest database of Income-tax, GST, Companies

Act, FEMA, SEBI Laws, Insolvency Laws, Competition Laws, International Taxation, Accounts & Audit,

Indian Acts, so on and so forth.

Real Time Updates

Integrated Database

Research Box

Your GST & Company Law queries answered by Experts

Taxmann.com reports stories from more than 100 sources in Real Time.

One can read about Case Laws, Circulars, Notifications, expert's opinions, news and much more on all

Taxation and Corporate Law matters.

Taxmann's Search is a customized search engine with an inbuilt tax intelligence.

It automatically boosts the most relevant results so that you spend more time in reading the documents and

not searching them.

Taxmann.com is the only website where you get an integrated database. All records have been stitched

together so that all connected records can be accessed immediately.

‘ All About™ ' is a tool where all connected records can be accessed in just one click by selecting a section.

Research Box gives you flexibility to save all your research work for future references. You can even give a

customized name to your research work.

While reading a document, you can place a bookmark or write your thoughts in that document.

Get replies for your professional queries by Mr. V.S. Datey.

All subscribers can post their queries on Companies Act, 2013, GST Act, Ind AS and Accounting Standards.

One Platform for all research

Best Search Engine

SALES &

MARKETING

North

Head Office 59/32, New Rohtak Road, New Delhi – 110005 (India) Tel : +91-11- Email : sales@taxmann.com

Gurugram Mobile : +91- Email : sales.gurugram@taxmann.com

Noida Mobile : +91- Email : sales.noida@taxmann.com

Faridabad Mobile : +91- Email : sales.faridabad@taxmann.com

Ghaziabad Mobile : +91- Email : sales.ghaziabad@taxmann.com

Rajasthan Mobile : +91- Email : sales.jaipur@taxmann.com

Punjab Mobile : +91- Email : sales.punjab@taxmann.com

Haryana Tel : +91- Email : sales.haryana@taxmann.com

Himachal Pradesh Mobile : +91- Email : sales.hp@taxmann.com

Uttarakhand Mobile : +91- Email : sales.dehradun@taxmann.com

West

Maharashtra Mumbai 35, Bodke Building, Ground Floor, MG Road, Opp. Mulund Railway Station, Mulund (W), Mumbai - 400080 Tel. : +91-022-25934806/07/09, 25644807 Mobile : +91-9619668669, Email : sales.mumbai@taxmann.com, nileshbhanushali@taxmann.com Pune Office No. 14, First Floor, Prestige Point, 283 Shukrwar Peth, Opp. Chinchechi Talim, Nr. BSNL office, Bajirao Road, Pune- 411002, Mob. : 9822411811 / 9834774266 / 9322293945 Email : sales.pune@taxmann.com, Nagpur Mobile : +91- Email : sales.nagpur@taxmann.com Goa Mobile : +91-7045453852, 9322247686 Email : sales.panaji@taxmann.com Gujarat Ahmedabad 7, Abhinav Arcade, Ground Floor, Nr. Bank of Baroda, Pritam Nagar Paldi, Ahmedabad – 380007 Tel : +91-079-26589600/02/03, Mobile : +91-9909984900, 9714105770, 9714105771 Email : bdurgaprasad@taxmann.com, sales.ahmedabad@taxmann.com

Central

Uttar Pradesh Lucknow Mobile : +91- Email : sales.lucknow@taxmann.com Madhya Pradesh Bhopal Mobile : +91- Email : sales.bhopal@taxmann.com Chhattisgarh Raipur Mobile : +91- Email : sales.raipur@taxmann.com

Or Visit : taxmann.com/dealers

South

Karnataka Bengaluru Mobile : +91-9986950066, 08939009948 Email : sales.bengaluru@taxmann.com Andhra Pradesh/Telangana Hyderabad 4-1-369-Indralok Commercial Complex Shop No. 15/1 – Ground Floor, Beside Hotel Jaya International Reddy Hostel Lane Abids Hyderabad – 500001 Mobile : +91-9391041461 / 09322293945 Email : bdurgaprasad@taxmann.com sales.hyderabad@taxmann.com Tamil Nadu/Puducherry Chennai Mobile : +91-8939009948, 9324444746 Email : sales.chennai@taxmann.com Kerala Cochin Mobile : +91-9324444746, 7045453852 Email : sales.kochi@taxmann.com

East

West Bangal Kolkata Mobile : +91- Email : sales.kolkata@taxmann.com Bihar/Jharkhand Bihar/Jharkhand Mobile : +91- Email : sales.ranchi@taxmann.com Patna Mobile : +91- Email : sales.patna@taxmann.com Odisha Bhubaneswar Mobile : +91- Email : sales.bhubaneswar@taxmann.com

North East

North East Mobile : +91- Email : sales.guwahati@taxmann.com