Moratorium refers to a temporary suspension or interlude of some actions. In insolvency proceedings, it is a time in which a company is not liable to any recovery action or lawsuit and enforcement. Simply, moratorium affords the company a breathing space when it is in great financial distress. When Does it Apply? Moratorium typically comes...
Author: Ankita Bhandari (Ankita Bhandari)
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What is CIRP (Corporate Insolvency Resolution Process)?
CIRP is an abbreviation that means Corporation Insolvency Resolution Process. It is a legal procedure which is in the Insolvency and Bankruptcy Code (IBC), 2016 and is initiated when an organization fails to pay debts at the right time. In less complicated terms, CIRP is a time-based procedure to determine whether a financially crippled company...
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The Insolvency and Bankruptcy Code (Second Amendment) Act, 2018 – A Simplified Guide
What Is The Insolvency and Bankruptcy Code (Second Amendment) Act, 2018 About? This is an amendment, which involves Insolvency and Bankruptcy Code (Second Amendment) Act, 2018 to the Insolvency and Bankruptcy Code, 2016 (IBC). The original IBC has been adopted to give a streamlined and time limit framework of resolving insolvency of companies, partnership firms...
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Finance Act, 2017 – Simplified Guide for NCLT / NCLAT Practice
What Is the Finance Act, 2017 About? Finance Act, 2017 is a parliamentary law in the process of the Union Budget. Although the Finance Acts mainly concern taxation issues, they more often than not modify other legislations to introduce policy and structural changes. The Finance Act, 2017 is especially significant to the tribunal practice due...
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The Competition Act, 2002 – A Simplified Guide for Competition Law Practice
What Is the Competition Act, 2002 About? The Competition Act, 2002 is the most important law of competition that regulates the market in India. It is designed to provide fair competition whereby it discourages activities that exploit consumers, limit free trade or manipulate market conditions. This Act supersedes the previous Monopolies and Restrictive Trade Practices...
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NCLAT Rules, 2016: Complete Guide to Procedures, Filing, Hearings, and Appellate Tribunal Practice
What Are These NCLAT Rules, 2016 About? The NCLAT Rules, 2016 are procedural regulations that have been designed by the Central Government in the regulation of the filing, hearing, and determination of cases before the National Company Law Appellate Tribunal (NCLAT). These regulations have an impact on the operation of NCLAT in cases of appeals...
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Companies Amendment Act, 2020: A Simple and Practical Explanation
What Is the Companies Amendment Act, 2020About? One of the reform laws is the Companies Amendment Act, 2020, which promotes further amendments of the Companies Act, 2013. It develops on the previous amendments, in particular, the Companies Amendment Act, 2019, and is dedicated to decriminalisation of the offences, simplification of doing business and corporate compliance....
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Companies Amendment Act, 2019: Key Changes Explained Simply
What Is the Companies Amendment Act, 2019 About? The Companies Amendment Act, 2019 is a significant change in legislation of the Companies Act, 2013. It was passed to amend some provisions in the current law in an attempt to enhance the corporate governance, curtail unnecessary criminal penalties, and enhance the mechanisms of compliance. The main...
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The Competition Appellate Tribunal (Procedure) Regulations, 2011
What Is Competition Appellate Tribunal (Procedure) Regulations, 2011 About? The Competition Appellate Tribunal (Procedure) Regulations, 2011 were procedural rules by Competition Appellate Tribunal (CAT) prepared due to the authority granted by Section 53-O of Competition Act, 2002. These rules established procedures regarding how requests and corresponding applications to orders of Competition Commission of India (CCI)...
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The Competition Appellate Tribunal (Form and Fee for Filing an Appeal and Fee for Filing Compensation Applications) Rules, 2009 – Explained Simply
What the Competition Appellate Tribunal (Form and Fee for Filing an Appeal and Fee for Filing Compensation Applications) Rules, 2009 Is About? Prior to having the appellate jurisdiction under the Competition Act transferred to the National Company Law Appellate Tribunal (NCLAT), appeals to orders of the Competition Commission of India (CCI) were heard by the...
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