Company Law Finance

P2P lending achieves 10-fold growth with returns as high as 25% in 1 year

Last month, Nitin, a college student, earned 22 per cent returns out of his monthly allowances. He is a regular investor in peer-to-peer (P2P) lending platforms, and was In the last one year, no other sector weathered slowdowns and financial crisis in India like the peer-to-peer (P2P) lending – essential platforms which cater to subprime […]

Company Law Synergy Insolvency

SME can call out big firms for dues, thanks to a tweak in IBC

The Insolvency and Bankruptcy Code (IBC) has provided small enterprises in India the window to force large companies to cough up pending dues. Information utility National e-governance Services (NeSL) will now make public the names of companies which default on payments. The details will be shared with all creditors that have exposure to the company. The managing director and chief executive […]

Company Law Synergy Insolvency

CORRECT FILING OF CLAIMS IS CRUCIAL TO ENHANCE RECOVERY PROSPECTS UNDER INSOLVENCY AND BANKRUPTCY

FILING OF CLAIMS UNDER INSLVENCY AND BANKRUPTCY Claims by  -> Operational Creditor Financial Creditor Creditors in a class Workmen and employees Workmen or Employees as a class Other claimants Claims under : Insolvency Resolution Process Form B – Schedule Form C – Schedule Form CA -Schedule Form D – Schedule Form E – Schedule Form […]

Company Law Information Technology

Conditions for no deduction of TDS under section 194J for Acquisition of Software

We often find ourselves in confusion in respect of TDS deduction on various expenses in our day to day business operations, one of such situations is a purchase of software and applicability of TDS on purchase of Software. As per Ministry of Finance NOTIFICATION NO. 21/2012 [F.No.142/10/2012-SO(TPL)] S.O. 1323(E), DATED 13-6-2012 The Government has notified […]

Company Law Synergy Insolvency

NCLT – A FINANCIAL CREDITOR CAN’T HAVE TWO CIRP INITIATED AGAINST THE CORPORATE DEBTOR AND THE CORPORATE CREDITOR FOR THE SAME CAUSE.

There is no bar in the ‘I&B Code’ for filing simultaneously two applications under Section 7 against the ‘Principal Borrower’ as well as the ‘Corporate Guarantor(s)’ or against both the ‘Guarantors’. However, once for same set of claim application under Section 7 filed by the ‘Financial Creditor’ is admitted against one of the ‘Corporate Debtor’ […]