corporate law

Interim Resolution Professional IBC

JUDGEMENT DATE: 18th DECEMBER, 2020 Mr Rajnish Jain - The promoter, Stakeholder and Managing, Director of Suspended Board of Directors Vs. 1. (Manoj Kumar Singh - I.R.P.) Struck off as per Order dated 24.06.2020 2. Anupam Tiwari Resolution Professional for M/s Jain Mfg (India) Private Limited 3. BVN Trade..

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From SICA to IBC

Key Takeaways • Government introduced the SICA legislation to tackle the revival and rehabilitation of sick industrial units in 1985 but it was repealed in 2016 com..

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Insolvency and Bankruptcy Code suspension extended till 31st March

Background • The nationwide lockdown induced by the Covid-19 pandemic which began on 25th March, 2020 made the entire country come to a complete standstill. The process of gradually opening up the economy in a phased manner began on 1st June, 2020. • The government introduced v..

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EPFO facilitates multiple options for submission of Digital Life Certificate by EPS pensioners

All pensioners of Employees’ Pension Scheme 1995 (EPS’95) are required to submit Jeevan Pramaan Patra (JPP) / Digital Life certificate (DLC) each year to continue drawing pension . In the current scenario of COVID-19 pandemic, the Employees’ Provident Fund Organization (EPFO) has facilitated multiple options for EPS pensioners to submit t..

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Government of India deletes Schedule VIII that banned foreign legal professionals

On 4th November 2020, Government of India Ministry of Law and Justice promulgated an ordinance in the name of Arbitration and Conciliation Amendment Ordinance 2020. The said ordinance brought in two major changes to the existing arbitration and cancellation act 1996 (herein after the Act), which is the procedural law governing the international and domestic arbitrat..

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Observance of Vigilance Awareness Week in ESIC

"Vigilance Awareness Week” was observed at Hqrs. Office, Delhi and Field offices /Hospitals of ESI Corporation located throughout the country with enthusiasm from 27th October to 2nd November 2020 by organising various programmes and activities to create awareness amongst the stakeholders and the public regarding vigilance activities being undertaken by t..

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Corporate Social Responsibility

Corporate social responsibility is a business model that is self-regulated and it holds the companies to be socially accountable to the stake holders and the public. There can be four business responsibilities. Environment efforts: A company can take efforts in making our surroundings better. It can con..

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CSR during times of COVID 19

Corporate Social Responsibility or CSR is mandated by the Section 135 read with Schedule VII of the Companies Act, 2013. It states that all companies, having net worth of 500 crore, or turnover of 1000 crore or more or a net profit of 500 crore or more during a financial year to constitute a Corporate Social Responsibility (CSR) Committee Board. The responsibilities..

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Arbitration Clauses against Public Policy are Unconscionable & Unenforceable

"Moral of the story is if we make 'Arbitration Clauses' sacred or unquestionable then in the disputes of strong and weak, justice may not win but stronger party would always win" – Hon'ble District Judge, Sh. L. K. Gaur The entire world is moving towards alternative di..

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Canada Court Gives Respite to Refugees Coming from the US

The Federal Court of Canada recently declared the Safe Third Party Agreement with the United States of America invalid. The judgement Canadian Council for Refugees v. Canada was given by single judge Justice Ann Marie McDonald July 22, 2020. It opines that the agreement violates the Canadian Charter as well as certain provisions of the Constitution of Canada. The ju..

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Facility to apply for Scheme Certificate under EPS, 1995 now available on UMANG application

EPFO services most accessed on UMANG App; of 47.3 crore hits clocked by the App since August 2019, 41.6 crore or 88% meant for EPFO services The Unified Mobile Application for New-age Governance (UMANG) has been a big hit among EPF subscribers enabling them to access services during COVID-19 pandemic from the c..

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Violation of provisions of Company Law by the Companies

The Ministry of Corporate Affairs (MCA) has information of the companies which have violated the provisions of Company Law. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in response to a written question in the Lok Sabha today. MCA either directly or through Regional D..

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Launch of virtual hearing in quasi-judicial cases under EPF & MP Act, 1952 heralds an era of providing expeditious and affordable adjudication

This is part of a series of initiatives taken by EPFO to improve the ease of doing business, a new facility for conducting virtual hearing in quasi-judicial cases by use of secure IT applications, which was launched by Sh. Santosh Kumar Gangwar,  Minister of State (I/C), Labour and Employment in 227th meeting of Central Board of Trustees, Employees' Provide..

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Maintenance Under CrPC - Explained Elaborately

MAINTAINENCE In general connotation, maintenance is the amount which is paid by one person to another in their relation who is not able to maintain themselves. The word &#39;maintenance&#39; is however not defined in Code of Criminal Procedure. Section 125 of CrPC</strong..

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More than 8 lakh net subscribers added during first quarter of FY 21 as per EPFO payroll data

The provisional payroll data published by EPFO on 20th August 2020 reveals that the subscriber base of EPFO increased by around 8.47 lakh members during the first quarter of FY21. The COVID-19 pandemic outbreak had adversely affected the enrolments in the month of April and May 2020. Despite the lockdown, around 0.20 lakh and 1.72 lakh net new subscribers were added..

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