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IBBI Admits 1,060 Cases into Corporate Insolvency Resolution Process in Around 2 Years
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IBBI Admits 1,060 Cases into Corporate Insolvency Resolution Process in Around 2 Years

As per the information provided by Insolvency and Bankruptcy Board of India, in the years 2020-21 and 2021-22 (upto 31st December, 2021), 538 and 522 cases, respectively, have been admitted into the corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code, 2016. This was stated by Union Minister of State for Corporate Affairs Shri Rao Inderjit Singh in a written reply to a question in Rajya Sabha today. Giving more details, the Minister gave details of action taken in the said cases as follows:- YearCases AdmittedOutcome of cases as on 31st December 2021Appeal/ Review/SettledWithdraw n u/s 12AResolutionLiquidatio nOngoing2020-2153849939633242021-22522134704458 Further details are available in public domain on www.ibbi.gov.in, whi...
What is ACTIVE Compliance Status?
Academia

What is ACTIVE Compliance Status?

The Ministry of Corporate Affairs (MCA) had issued rules regarding companies incorporation for validating the registered office addresses of companies registered under the Indian Companies Act. These new rules came into effect on February 21, 2019 which states - every company incorporated on or before the 31st December, 2017 was required to verify its registered office, by filing e-form ACTIVE. The due for filing of e-form ACTIVE or INC-22A, is 31 Jul of every calendar for all the companies incorporated on or before 31 Mar of the respective calendar year. ACTIVE is an acronym of “Active Company Tagging Identities and Verification”. Table of Content What does ACTIVE Compliant Status Means? What does ACTIVE Non-Compliant Company Status Mean ?Example of ACTIVE Compliant Com...
How to Check Company Registration Status?
Academia

How to Check Company Registration Status?

Whenever you research about any company, one term you will often come across will be the “company status”. What does a company status mean? why is there a need to check company status? and how do you check company status? Each company has an operational status to it. The ‘status’ of a company is an indicator of whether the company is still functioning or not. Company status is one of the most important pieces of information to verify before dealing with any company. Company status indicates the present operating condition of a company. Company status of Indian companies gets updated on a regular basis by the ministry of corporate affairs (MCA) based on compliance adherence by the company related to filing of statutory documents. Every Indian company registered with the registrar of ...
 Informational Messages for Stakeholders’ Convenience by MCA
Uncategorized

 Informational Messages for Stakeholders’ Convenience by MCA

DSC Related Important Messages  Stakeholders are advised to associate DSC with MCA in case old DSC has been expired and new DSC has been procured. It is a mandatory step before attaching DSC in any form.  Stakeholders are advised to SAVE the form post attaching DSC and then UPLOAD it to avoid system error.  In case of “Unable to Affix DSC in Form”, Stakeholders are advised to use adobe reader version as Adobe V11 DC and check that DSC token is connected properly in their laptop/desktop.  In case Stakeholders receive the error ‘Attached DSC is revoked or expired’, please renew or procure the new DSC and first register on MCA portal before attaching on forms.   Please refer complete list of DSC FAQ here: http://www.mca.gov.in/MinistryV2/digitalsig...
New Struck-Off Company Disclosure Requirement in Financial Statements of FY21-22
Academia, MCA, Regulatory

New Struck-Off Company Disclosure Requirement in Financial Statements of FY21-22

All Companies are expected to prepare & submit the financial statements in accordance with Schedule III (‘Schedule’) to the Companies Act, 2013 (‘Act’). On March 24, 2021, The Ministry of Corporate Affairs (MCA) has introduced more elaborative disclosure requirements regarding financial statements of companies for financial statements prepared for FY 2021-22. One such requirement is disclosure of transactions with companies struck off by Registrar of Companies (‘RoC’) under section 248 of the Act, or under section 560 of the Companies Act, 1956. The following particulars are to be disclosed in such case: Name of the struck off company: the company shall disclose the name of the company which has been struck off by the respective Registrar of Companies and such information is a...
1.67 Lakh Companies Registered with MCA in FY 2021-22
Corporate

1.67 Lakh Companies Registered with MCA in FY 2021-22

Total number of companies registered during FY 2021-22: 1.67 Lakhs 1.67 Lakh Companies Registered with MCA during Financial Year 2021-22. The no of companies incorporated in FY 2021-22 are highest ever compared to any of the previous financial years. During the FY 2021-22, there is an increase of 8% in the no of companies incorporated compared to the previous financial year. A total of 1.55 Lakh companies registered during FY 2020-21. MCA had registered 1.24 lakh companies during FY 2018-19 and 1.22 lakh companies in 2019-20 respectively, it had registered 1.55 Lakh companies during FY 2020-21. 1.67 Lakh Companies Registered During FY 2021-22 Top 5 States with Highest Number of Companies Registered During FY 2021-22 During FY 2021-22, 31,107 Companies Registered in Mah...
Generic

IBBI Update | 03 August 21

Public Announcements2021-07-21 Public Announcement of Corporate Insolvency Resolution Process-SREE NAIDU BEVERAGES PRIVATE LTD CIN( U15549AP2014PTC094813 )2021-07-31 Public Announcement of Corporate Insolvency Resolution Process-Trifalagur Square Infrastructure Private Limited CIN( U45201UP2005PTC030956 )2021-07-30 Public Announcement of Corporate Insolvency Resolution Process-SYNERGYTECH AUTOMATION PRIVATE LIMITED CIN( U29119PN2003PTC018689 )2021-07-28 Public Announcement of Corporate Insolvency Resolution Process-SUPERKISAN E-COMMERCE PRIVATE LIMITED CIN( U74999DL2018PTC341332 )2021-07-28 Public Announcement of Corporate Insolvency Resolution Process-KOLLA INNOVATIVES INFOTECH PRIVATE LIMITED CIN( U74200AP2005PTC045815 ) Invitation of Resolution Plans2021-07-25 Invitation of Resoluti...
New Indian Companies Registered from 15th Feb – 13th Mar 2019
Corporate, New Companies

New Indian Companies Registered from 15th Feb – 13th Mar 2019

Highlights: 9,538 Companies Incorporated from 15th Feb – 13th Mar 2019 780 Companies Registered on 22nd Feb 2019 which is the highest 8,724 New Private Companies, 251 Public Companies, and 563 Private One Person Company has been registered Maharashtra has the highest count of new companies – 1,763 New Companies Registered By Date 9,538 companies were incorporated during 15th Feb – 13th Mar 2019. 22nd Feb 2019 has the highest count of 780 companies. New Companies Registered by Class The highest number of companies incorporated are Private Companies which is 8,724 companies, Private One Person Company is 563 companies, and Registered Public Companies form only 251 Companies. New Companies Registered by State The below chart shows t...
NCLT Organised Colloquium on “NCLT- The Road Ahead”
Uncategorized

NCLT Organised Colloquium on “NCLT- The Road Ahead”

The National Company Law Tribunal (NCLT) organized a national level Colloquium on the subject “NCLT- The Road Ahead”  here today. Chief Justice (R) Ramalingam Sudhakar, President, NCLT; Shri Rajesh Verma, Secretary, Ministry of Corporate Affairs; and Shri Ravi Mital, Chairman, Indian Bankruptcy Board of India (IBBI) inaugurated the colloquium. Members of the Tribunal, both Judicial and Technical, representing 15 Benches across India also participated in the colloquium. In his address as the chief guest, Chief Justice (Retd.) Ramalingam Sudhakar said that India is envisioning a multi-trillion dollar economy. Industry and commerce, crucial in the nation’s economy, are governed by Company Law besides other laws. Chief Justice (Retd.) Ramalingam Sudhakar&nbs...