The transactions that can be avoided or those referred to as avoidable transactions are covered under Sections 43 to 51 of the Insolvency and Bankruptcy Code, 2016, respectively. This article seeks to undertake a comparative analysis of the treatment of undervalued transactions under the UK Insolvency Act 1986 and the Insolvency and Bankruptcy Code of India 2016. Understanding Undervalued Transactions …
The Insolvency and Bankruptcy Code, 2016, reckoned to be a landmark legislation is a significant departure from previous insolvency regimes with the loss of defaulter's paradise and resurrection of economy's rightful position. For instance, in the case of Anuj Jain Interim Resolution Professional for Jaypee Infratech Limited v. Axis Bank Limited, the Apex Court stated that the impugned transactions had …
Highlights The facility is proposed to be made available through the Unified Payments Interface Settlement of such transactions would happen through the ATM networks In a bid to check fraud, the Reserve Bank on Friday decided to permit all banks to introduce card-less cash withdrawal through ATMs. "It is now proposed to make card-less cash withdrawal facility available across all …
The Central Board of Direct Taxes recently announced availability of Annual Information Statement to the taxpayer. AIS is nothing but a statement of financial transactions furnished to it by various entities in respect a taxpayer collated by the tax department based on the PAN. 26AS, the AIS has details of all the transaction which are reported by certain entities under …
Five cases of illegal transfer of 36.30 acres of defence land have come to the notice of the defence ministry in the last three years, Minister of State for Defence Shripad Naik said in Parliament on Wednesday. Total area involved is 36.30 acres.” In two cases pertaining to Haryana’s Narnaud Hisar and one pertaining to Punjab’s Muktsar,, the respective state …
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