Early but important changes were made to the Companies Act, 2013. One of these is the Companies Amendment Act, 2015. India’s corporate law changed totally with the Companies Act, 2013, but there were some problems when it was put into practice. The government passed the Companies Amendment Act, 2015, to fill these gaps. This change...
Category: NCLT
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Financial Creditor: Meaning, Importance & Simple Example
Financial Creditor is a very frequent term in the corporate and insolvency news. The interpretation of this term makes it a lot easier to track the cases involving debt, bankruptcy, and NCLT. What is a Financial Creditor? A Financial Creditor refers to an individual or an institution that advances money to a company expecting the...
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What Is an Operational Creditor? Explained in Simple Words
If you go through business or legal news, you very often come across the term “Operational Creditor.” But what is that, actually? Let’s simplify it in simple words. What is an operational creditor? An operational creditor is a person or company that provides goods or services to another company and is owed money by them...
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What is the Meaning of Corporate Debtor: How NCLT and IBC Handle Debt Cases
Corporate Debtor: When reading business or legal news, numerous people come across the term “commercial debtor” and feel confused. It may sound like a complex legal word, but its meaning is actually very simple. This blog will help you clearly understand what a commercial debtor means and why it matters. What Is a Corporate Debtor?...
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What Is NCLT? Why the National Company Law Tribunal Matters in Business News
When a company refers to its case in front of the NCLT by way of a news story, the implication is generally related to either significant financial or legal challenges. A brief explanation of the meaning of the NCLT—National Company Law Tribunal—will help you understand its role within India’s corporate environment. The Purpose of NCLT...