The issue whether entries/ disclosures made in financial statements could be construed as an “acknowledgment” under Section 18 of the Limitation Act, came up for consideration before NCLAT. While this issue had been previously considered by various courts and tribunals, there was some ambiguity...
Cheque Bouncing vs Insolvency – Whether Moratorium is a Boon or Curse?
However, the Apex Court also, observed that the moratorium provision under Section 14 of the Code would apply only to the corporate debtor while the natural persons mentioned under Section 141 of the NI Act continue to be statutorily liable under the NI Act.
Insolvency Update: Relaxation on Default Amount Under Section 4 of IB Code, 2016
The Hon'ble Union Finance Minister, Smt. Nirmala Sitharaman convened a press conference on 24th March 2020 to make announcements on statutory and regulatory compliance matters. The Minster of State for Finance and Corporate Affairs, Shri. Anurag Singh Thakur was also present. Amongst various other announcements made, a specific announcement was also made with respect to the... Continue Reading →