What is Bankruptcy?

Bankruptcy is a procedure by the court when a magistrate and trustee examines the assets and obligations of people, partnerships, and corporations who do not consider their debts to be so overwhelming.

The Court rules that debts, i.e. those who owe, no longer have to be paid lawfully. The court might also reject the lawsuit if the individual or company thinks that it has the property to pay its debts.

In order to allow individuals to begin when their…

Continue

In order to consolidate and modify the laws concerning the reorganisation and insolvency of business persons, partnership companies, and individuals in a timely manner for the purpose of maximising their assets, encouraging entrepreneurship, availability of credit, and balancing the interests, including those of all stakeholders, of insolvency and Bankruptcy Code 2016

Corporate Insolvency Resolution Process

Corporate insolvency deals with corporate insolvency like private limited… Continue

NBFC denotes a financial non-banking enterprise. NBFC consists of insurance firms, large stocks – Broking businesses or enterprises that lend to vehicles, houses, machines and aeroplanes or even to your mobile telephones occasionally. You probably have heard the name Bajaj finserv, the financial support business for physical products such as AC, Mobile, Refrigerator, etc.

NBFC registration offers a variety of… Continue

The financial non-banking companies are companies registered under the Companies Act 2013, which are responsible for receiving deposits, advances, loans, and the procurement of stocks, shares and bonds, debenture, and securities provided to the government. The companies are registered under the Companies Act 2013. The NBFCs are registered and participated actively in…

Continue

MSMEs are often considered the backbone of the Indian manufacturing industry. However, the slow economic growth triggered by demonetisation and the economic disruptions caused by the pandemic that followed, has really hurt the MSMEs throughout the country. The Government has been trying with all its strength to back the MSMEs and is devising plans for their revival.…

Continue

In the general language of the law, any Food Business Operator (FBO) needs to apply for the FSSAI license once it's turnover exceeds a particular value. The type of license granting process depends on the net valuation of the business and the type of its business activity.

In the following sections, we will understand the advantages of getting the FSSAI certification and the different types…

Continue

Many business owners often have questions regarding the I&B codes. One of the most consistent ones among them is the query regarding pre-pack insolvency. This query has gained momentum since the economic disruption caused by the COVID-19. The ongoing pandemic has hit every aspect of human life as we all know of. One of the facets of the pandemic is that it has severely hit all the major economies of the world. The Indian economy was already going through a downfall and COVID-19 too has…

Continue

DIN stands for Director Identification Number, and it’s a number that is unique to one director alone. Its purpose is to keep track of the activities of an individual director or the company the director’s representing currently as. And so, this DIN is a very important thing to exist as we can keep track of all the past activities the director took part in. But there are times when this DIN disqualified…

Continue

The internal complaints committee contracts with harassment cases. The committee will include the presiding officer who shall be a woman assigned at a senior grade at the department from amongst the workers. Not less than two members from amongst employers preferably committed to the cause of women or who have had experience in social work or bring into the world of legal knowledge.…

Continue

Introduction

A person who acts as an intermediary and sells, solicits, or negotiates insurance on behalf of his client for remuneration is called an insurance agent. They negotiate with multiple insured and act on behalf of their client. Customers are represented on their search and they professionally find the best policy for the respective customer accordingly.

Unlike captive agents and independent, when more than one insurance company is represented, the foremost duty of the…

Continue

The Reserve Bank of India (RBI) released a draft circular titled – "liquidity risk management framework for NBFCs and Core Investment Companies (CICs)". The objectives of these new RBI guidelines for NBFC are to prepare a set of instructions for large RBI registered NBFC. These will help them deal with severe liquidity problems and prevent the…

Continue

Introduction

A microfinance company is a type of financial institute that gives loans and other financial support to the lower-income groups, they usually need a lesser amount of financial support as compared to other people of the society, and microfinance companies fulfill these requirements. After getting the microfinance company registration, the types of loans a company provides are termed small…

Continue

Setting up a company in India has become a very easy procedure and at some very compelling prices. Out of these companies, setting a Private Limited Company is one of the most recommended ways to start a business in India these days. This specific type of company offers limited liability for…

Continue

An insurance broker is a job of profit and generating income at a good rate. In comparison to the insurance agents, an insurance broker can have more freedom. The reason behind this is that the insurance agents are tied down to just one specific company while the same cannot be said in the case for brokers. The brokers in comparison can sell more products from multiple companies and thus, end up greatly…

Continue

Documents required to get an insurance web aggregator license, an applicant who needs to apply for an Insurance web aggregator license need to fulfill the following details. In point of companies view an applicant company must be registered. Registration follows up the standards of The Companies Act, 2013. Registration includes the Limited liability partnership act, 2008. Memorandum of the Association should…

Continue