Day: June 12, 2018

IBBI Circular regarding fee and other expenses incurred for Corporate Insolvency Resolution Process

Posted by Sukhwinder Singh | Jun 12, 2018 | Government, Laws |

Hello readers, Hope you’re enjoying our corporate law updates. Insolvency and Bankruptcy Board of India issued a circular (Circular No. IBBI/IP/013/2018) dated 12.06.2018 regarding fee and other expenses incurred for Corporate Insolvency Resolution Process. When a corporate debtor undergoes corporate insolvency resolution process (CIRP), an Insolvency Professional (IP) is vested with the management of its affairs and he manages its operations as a going concern. He complies with the applicable laws on behalf of the corporate debtor. He conducts the entire CIRP. Such responsibilities of an IP require the highest level of professional excellence, dexterity, and integrity. He needs to be compensated...

RBI Cancellated Certificate of Registration of 6 NBFCs

Posted by Sukhwinder Singh | Jun 12, 2018 | Government, Laws |

The Reserve Bank of India, in the exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies. Sr. No. Name of the Company Office Address CoR No. Issued On Cancellation Order Date 1 M/s Pace Properties Private Limited 8, Amartolla Street, 4th Floor, Room No 405, Kolkata-700001 B.05.06270 March 19, 2004 March 26, 2018 2 M/s Mahajan Vayapar Private Limited 71, B.R.B.Basu Road, Room No D-507, 5th Floor, Kolkata-700001 B.05.04661 November 22, 2001 March 26, 2018 3 M/s Apeksha Tours and...