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Showing posts from June, 2017

Notice at registered office of borrower is mandatory for initiation of insolvency process - NCLT - INSOLVENCY CODE

Notice at registered office of borrower is mandatory for initiation of insolvency process - NCLT - INSOLVENCY CODE IBC is not a Recovery Law, it is Revival Law SHORT SUMMARY In this Flash editorial, the author begins by referring the provisions of rules 4 of Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 in relation to Deliver of Notice at registered office of Corporate Debtor.  In some situations to avoid the reply from the Corporate Debtor or due to ignorance, non malafide intention etc. Creditor serves the notice/ application to debtor on address other then registered office address of the Debtor. The main thrust of the article, however, is upon the “Whether service of notice/ application at the register office of the debtor is mandatory or directory or whether notice can be serve at office other then registered office. ” In this editorial author discuss the decisions of Hon’ble National Company Law Tribunal ( NCLT ), New Delhi

PROCESS OF STRIKE OFF OF THE LIMITED LIABILITY PARTNERSHIP

PROCESS OF STRIKE OFF OF THE LIMITED LIABILITY PARTNERSHIP   SHORT SUMMARY : In this Flash editorial, the author begins by referring the provision of the LLP Act, 2008 concerning to Strike off of LLP. In case the LLP wants to close down its business or where it is not carrying on any business operations, it can make an application to the Registrar of Companies for declaring the company as defunct and removing the name of the LLP from its register of LLP’s. The main thrust of the article, however, is upon the LLP Notification dated: 16 th May, 2017 ( http://www.mca.gov.in/Ministry/pdf/LimitedLiabilityPartnershipAmendmentRules2017_22052017.pdf ) with reference to LLP (Amendment) Rules, 2017.  These rules came into force w.e.f. 20 th May, 2017. Through this notification MCA has amend the provisiosn relating to strike off of LLP. This is article no. 237 of the series of editorials written by the author on corporate laws {including Companies Act,