Disqualified directors of debarred companies may approach courts



The government’s move to debar directors of companies who have not filled annual returns for three successive years is likely to be challenged in courts citing retrospective application of Companies Act, 2013. As a general rule, law is always applicable prospectively, unless any prior date is mentioned specifically says Sumit Naib. 



According to corporate law experts, Section 164 (2) (a) of the Companies Act, 2013, which pertains to disqualification of directors due to non-filing of financials and annual returns for three years is applicable to all types of companies including private ones with effect from April 1, 2014.
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INSOLVENCY AND BANKRUPTCY CODE – KEY FACTORS

INSOLVENCY AND BANKRUPTCY CODE

An effective and efficient insolvency regime is the foundation of a strong economy. Though there are several laws and forums in India deals with financial breakdown and insolvency of companies, it failed to find effective solutions and timely recovery of defaulted payments and credits. To improve Business environment in India and to gain confidence of domestic and foreign investors the GOI specially constituted ‘Bankruptcy Law Reforms Committee’ (BLRC) under Ministry of Finance. 


                               The Committee introduced the Insolvency and Bankruptcy Code Bill in November 2015, replacing the existing framework of insolvency proceedings and focusing creditor driven insolvency resolution. The IBC offers a standardized, comprehensive financial condition legislation encompassing all corporations, partnerships and Sole Proprietorship. One in every of the elemental options of the Code is that it permits creditors to assess the viability of the debtors and encourage reconciliation for its revival or a speedy liquidation. 
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Lawyers in Chennai | Have you got your contracts right?

Have you got your contracts right?
Bad contracts could be detrimental to any business. Not to mention “enforcing contracts” in India is an uphill fruitless endeavor. It’s even getting worse for the small startups in the growth phase have little resources to fight legal cases when the contract goes wrong. Considering the current legal scenario which takes it own phase in delivering the justice, the start-ups can at least do is to create and govern contracts in a more deterministic manner.

What would go wrong?
Any error in a contract could undermine its legality and affect the abilities of parties while enforcing it before the Court of Law or before Arbitration. The affected party by such mistake will have not option but seeks to repeal or cancel the contract. In all parts, you may end up in facing ordeal and consequently facing business delays and waste of resources.
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How to get divorce in 30 days

How to get divorce in 30 days?

Yes! you heard it right… How to get divorce in 30 days? This is the most frequently asked question by most of the client clients to their lawyers practicing Family Law. The question is pretty much like “Sir, whatever it takes I want my divorce forthwith… Can you do it?”

So what the lawyers can say?

I will get back onto this later but let’s just have a glimpse on the divorce law in India. Divorce cases are one of Family law proceedings based on a personal law which takes into considerations of the customs, beliefs and tenets of the religion of the parties. Though the procedures of divorce varies religion to religion, the courts in India keep the litigants on the same queue no matter of their religion.
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