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FINANCIAL STRESS & INSOLVENCY ISSUES FOR MSMEs Micro, Small and Medium Enterprises (MSMEs) are amongst the strongest drivers of economic development, innovation, and employment. The sector also contributes in a significant way to the growth of the Indian economy with a vast network of about 63.38 million enterprises. The sector contributes about 45% to manufacturing
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MONEY RECEIVED AS LOAN WITH REGARD TO FUTURE SUPPLIES OF MATERIAL BE TREATED AS FINANCIAL DEBT: NCLAT CASE SUMMARY Gaurav Agrawal, Director M/s. Albus India Ltd. – Appellant vs M/s Tuf Metallurgical (P) Ltd. & M/s Albus India Ltd. – Respondents (Company Appeal (AT) (Ins) No.212 of 2019) Order dated September 4, 2019 by
Read MorePF, PENSION AND GRATUITY CANNOT BE CONSIDERED AS LIQUIDATION ESTATE UNDER IBC: NCLAT
PF, PENSION AND GRATUITY CANNOT BE CONSIDERED AS LIQUIDATION ESTATE UNDER IBC: NCLAT CASE SUMMARY STATE BANK OF INDIA – Appellant vs MOSER BAER KARAMCHARI UNION & ANR – Respondent (COMPANY APPEAL (AT)(INSOLVENCY) NO. 396 of 2019) Order dated 19.08.2019 by Justice S.J.MUKHOPADHAYA and Justice A.I.S. CHEEMA 1. Issue in Consideration Whether the provident fund,
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Read MoreWHY DID UK PM THERESA MAY RESIGN?
WHY DID UK PM THERESA MAY RESIGN? Mrs. Theresa Mary May graduated from the St Hugh’s College, Oxford in the year 1977. May made her political entrance after being elected to be the Member of Parliament (MP) for Maidenhead in the year 1997. After a 13 year journey in UK politics she served as the
Read MoreLIMITED LIABILITY PARTNERSHIP: PROCEDURE FOR FORMATION
LIMITED LIABILITY PARTNERSHIP: PROCEDURE FOR FORMATION LIMITED LIABILITY PARTNERSHIP: PROCEDURE FOR FORMATION A Limited Liability Partnership is a body corporate formed and incorporated under the Limited Liability Partnership Act, 2008 and is a legal entity separate from that of its partners and has perpetual succession. Process of Registration as LLP Step 1: Obtain Digital Signature
Read MoreBRIEF ANALYSIS OF THE INTERIM UNION BUDGET 2019
BRIEF ANALYSIS OF THE INTERIM UNION BUDGET 2019 The acting finance minister pronounced the Interim Union Budget, 2019. In this alert, we bring to you a brief analysis of the tax proposals announced as part of the interim budget and other proposals. All the below amendments are proposed to be effective from fiscal year 2019-20.
Read MoreSPECIFIED COMPANIES (FURNISHING OF INFORMATION ABOUT PAYMENT TO MICRO AND SMALL ENTERPRISE SUPPLIERS) ORDER, 2019
SPECIFIED COMPANIES (FURNISHING OF INFORMATION ABOUT PAYMENT TO MICRO AND SMALL ENTERPRISE SUPPLIERS) ORDER, 2019 As per Chapter V (Section 15 and 16) of the Micro, Small and Medium Enterprises Development Act, 2006 all companies, who get supplies of goods or services from micro and small enterprises shall not exceed its payment to such enterprises
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