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Extension of period of the Company Law Committee

Extension of period of the Company Law Committee

[ad_1] F. No. 211/2018-CL-V Government of India Ministry of Corporate Affairs 5th Floor, ‘A’ Wing, Shastri Bhawan, New Delhi- 110001  Dated: 17th September, 2020  ORDER   Subject:- Constitution of the Company Law Committee  In continuation of the Order of even no. dated 18.09.2019 (annexed herewith), the tenure of the Company Law Committee is hereby extended upto two years from the date of that order i.e. upto 17.09.2021. 2. This issues with the approval of the competent authority. (Pranay Chaturvedi) Deputy…

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The Interaction between India’s current insolvency code and income tax law

The Interaction between India’s current insolvency code and income tax law

After adopting the Insolvency and Bankruptcy Code, 2016 (IBC), India overhauled the insolvency and bankruptcy law. The IBC is a landmark statute and a transformation through India’s insolvency regime. The IBC insolvency settlement provides for the submission of potential creditor payments for the recovery of an unpaid debtor. These mitigation strategies include the restructuring of the distressed business debtor. With respect to the allocation of proceeds resulting from the business debtor’s resolution, the IBC stipulates a strong priority in that…

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