Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019

Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019   For: Preliminary & Mains Topics covered: About the Insolvency and Bankruptcy Code (Second Amendment) Bill About National Company Law Tribunal   News Flash The Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019 was introduced in Lok Sabha which seeks to amend the Insolvency and Bankruptcy Code, 2016. Insolvency is a situation where individuals or companies are unable to repay their outstanding debt. The Code provides a…

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Government constitutes Company Law Committee – Diligent IAS

Government constitutes Company Law Committee   For: Mains Topics covered: About the committee – its mandates, Terms of reference Companies Act, 2013 Limited Liability Partnership (LLP) Act, 2008   News Flash The government has constituted the company law committee for examining and making recommendations on various provisions and issues related to implementation of the Companies Act, 2013 and Limited Liability Partnership (LLP) Act, 2008.   Committee will help in promoting the: Ease of living by…

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09, March 2019

Alternative Dispute Resolution in India   News Flash The Supreme Court sent the decades-long Ayodhya dispute for mediation and appointed a three-member arbitration panel. The mediation process will be held in Faizabad and will start within a week. The court appointed (rt.) Justice F.M.Kalifulla as the chairman of the panel, which includes senior advocate Sriram Panchu and Sri Ravi Shankar. The mediation would be held in camera with “utmost confidentiality” and should be concluded in…

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08, March 2019

National Company Law Tribunal (Ministry of Corporate Affairs)   WHAT The Government has approved establishment of two new benches of National Company Law Tribunal (NCLT). Amaravati in Andhra Pradesh. Indore in Madhya Pradesh. JURISDICTION The jurisdiction of the Bench at Amaravati will be the state of Andhra Pradesh. The jurisdiction of the Bench at Indore will be the state of Madhya Pradesh. At present Andhra Pradesh comes under the Jurisdiction of NCLT Bench at Hyderabad.…

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