Day: January 6, 2018

Insolvency Professionals must to use registration number and registered address in all correspondence

Hello readers, Hope you will enjoy our corporate law updates with your dear ones. On 03.01.2018, Insolvency Bankruptcy Board of India (IBBI) issued a circular (Circular No. IP/001/2018) regarding Insolvency Professionals must to use registration number and registered address in all correspondence. You can read full circular here:- It has been observed that a few insolvency professionals are using different addresses and emails while communicating with the stakeholders, despite repeated advice from the Insolvency Bankruptcy Board of India (IBBI) to use the addressees and emails registered with the IBBI in all their communications. It is hereby directed that in...

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Insolvency professional not to outsource his responsibilities – IBBI

Hello Readers..!! Hope you will enjoy our corporate updates. On 03.01.2018 Insolvency and Bankruptcy Board of India issued a circular (Circular No. IP/003/2018) regarding Insolvency professional not to outsource his responsibilities. You may read entire circular here:- The Insolvency and Bankruptcy Code, 2016 (Code) read with regulations made there under cast specific duties and responsibilities on an insolvency professional. An insolvency professional is required to perform certain tasks under the Code while acting as an Interim Resolution Professional, a Resolution Professional, a Liquidator or a Bankruptcy Trustee for various processes. For example, an insolvency professional is required to manage...

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11 NBFCs Surrender their Certificate of Registration to RBI

The following NBFCs have surrendered the Certificate of Registration granted to them by the Reserve Bank of India. The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their Certificate of Registration. Sr. No. Name of the Company Office Address COR No. Issued On Cancellation Order Date 1 M/s Rajputana Investment Society Private Limited 8, Sarat Chatterjee Avenue, Kolkata – 700029 B.05.03682 April 11, 2001 June 30, 2017 2 M/s Kripa Finance & Estates Private Limited (Presently M/s Kripa Securities Private Limited)...

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RBI Cancels Certificate of Registration of 3 NBFCs

The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following three non-banking financial companies (NBFCs) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Sr. No. Name of the Company Registered Office Address CoR No. Issued On Cancellation Order Date 1 M/s Alchemist Holdings Limited (Formerly known as M/s Mahindra Finlease Private Limited) 405, Jyoti Shikhar Tower, Janakpuri District Complex, New Delhi – 110058 B-14.01844 May 02, 2006 October 27, 2017 2 M/s Sukh-Chain Finance Company Limited Building No. 284, 1st Floor, Behind...

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