On 24th March 2020, the Central Government by notification, revised the threshold limit of the amount of default for the applicability of the provisions of the Insolvency and Bankruptcy Code, 2016, from Rs. 1 Lakh to Rs. 1 crore. The said revision in the threshold has come in the wake of the on-going crisis and […]
Recently the Apex Court has pronounced a ruling[1] against the appellant for non-deduction of tax at source for the payments made to a non-resident. Background: PAK-INDO-LANKA joint management committee (“PILCOM” or “Assessee”) was a committee formed by the cricket boards of India, Pakistan, and Sri Lanka for jointly hosting the 1996 ICC cricket world cup […]
NAME OF THE SCHEME: Companies Fresh Start Scheme 2020. PURPOSE OF THE SCHEME: To provide Companies with an opportunity to make good any filing related defaults, irrespective of duration of default and make a fresh start as a fully compliant company. READ MORE HERE
The Ministry of Small Scale Industries had, vide a notification dated 29th September 2006, classified micro, small and medium enterprises as follows: Criteria : Investment in Plant and Machinery or Equipment Classification Micro Small Medium Mfg. Enterprises Investment < Rs.25 lac Investment < Rs 5 Cr. Investment < Rs.10 Cr. Service Enterprises Investment < Rs.10 […]
COVID-19 has caused tremendous economic loss, delays in project completion, missing of targets and milestones and potential breaches and disputes among contracting parties. Recently, in the matter of Halliburton Offshore Services Inc. vs Vedanta Limited & Anr. [O.M.P (I) (COMM.) No. 88/2020 & I.As. 3696-3697/2020], a petition seeking inter alia restrain on invocation of the […]
Introduction A Founder’s Agreement (“Agreement”), while not mandatory, is an essential element of a startup that is founded by more than one person. The customary entity for a startup in India is a private limited company. Co-founders come together for a variety of reasons, which include bringing together each person’s unique skillsets, connections and network. […]
The entire world is crippled by Covid-19 and many are grasping at straws to shorten the diagnostic time by way of rapid test diagnostics kits, ventilators and other equipment to handle the scarcity at hospitals and of course a vaccine. To confront these challenging times, many inventors are coming up with novel ideas to address […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Amit Ashok Purohit of NMK & Co LLP, Chartered Accountants. Amit has joined IR as our exclusive Corporate Services Member in India. N M K & Co LLP, Chartered Accountants, is an accountancy firm established in 1982, and is headed by […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Nilesh M Kapadia of NMK & Co LLP, Chartered Accountants. Nilesh has joined IR as our exclusive Corporate Services Member in India. N M K & Co LLP, Chartered Accountants, is an accountancy firm established in 1982, and is headed by […]
The Government of India (“GoI”) has reviewed and amended the Foreign Direct Investment (FDI) policy to curb opportunistic takeovers/acquisitions of Indian companies, consequent to Covid-19 pandemic, and the GoI has vide Press Note No. 3 (2020 series) dated 17th April 2020 (hereinafter “PN3”) and has revised the FDI policy to this effect. In this article, […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Anjali Kothari of NMK & Co LLP, Chartered Accountants. Anjali has joined IR as our exclusive Corporate Services Member in India. N M K & Co LLP, Chartered Accountants, is an accountancy firm established in 1982, and is headed by Mr. […]
In a recent interesting judgement, the Hon’ble High Court of Madras had, in a suit for copyright infringement and permanent injunction filed by Indian Record Manufacturing Co. Ltd., (the “Plaintiff”), against a reputed reputed Indian music composer Mr. Illaiyaraja, permanently injuncted Mr. Illaiyaraja from infringing the Plaintiff’s copyrights in certain musical works and sound recordings […]