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Application Under Insolvency and Bankruptcy Code Introduction : To avoid clumsy process which is prescribe under Chapter-20 of Companies Act, 2013; which is relating to liquidation of company. Government has come out with Insolvency and Bankruptcy Code, 2016. Due to this now the process of liquidation takes place in rapid and fruitful manner. It is…
Insolvency and Bankruptcy Code, 2016 – Part-2 Introduction : In previous article we have explained the procedure relating to Insolvency and Bankruptcy Code, 2016; Which are the applications that are liable to be rejected, who are the person that can apply for Insolvency and Bankruptcy Code, 2016 and what are the documents that are required…
Insolvency and Bankruptcy Code, 2016 – Part 3 Introduction : In part 3 we will discuss who can be part of committee of creditor, what are the quorum requirement for meeting of committee of creditors, how company can apply for Fast Track insolvency resolution process or how can company apply for Voluntary Liquidation under insolvency…
Insolvency and Bankruptcy Code, 2016 – Part 4 Proceeds from sale of the liquidation assets will be distributed in following order: Whether there is any process which is relating to fast track insolvency resolution for corporate persons? Yes, there is process which is known fast track insolvency resolution it can be applied If the company…
Ind-As 10: Events occurring after reporting period Introduction: It is the basic accounting principle that financial statements are being prepared for the particular period; sometimes situation may arise that certain events may occur which impacts the financial statements materially. Now the question which arise is whether that transaction or event shall be adjusted in financial…
Ind-As 10: Events occurring after reporting period Introduction : In previous article we discussed the general concept relating to ‘events after reporting period’. In this part we will cover what are the special topic which has been given as exception to general rule; also, we will cover the relevant illustrations which will provide solutions to…
Ind-As 108: Operating Segments Introduction : Ind-As 108 prescribes about the reporting requirement and identification of operating segments. It is important to know for giant corporate that how they are required to report about various segments to their stakeholders from viewpoint of management; In this article we will cover how entity will identify the segments;…
Applicability of Independent Director and provision relating to Eligibility Who can be Independent Director? For being independent director, any person is required to fulfill the condition mentioned under section 149(6) of Companies Act, 2013.Therefore, only following person can become Independent director: Person who in opinion of board of directors, possesses relevant expertise and experience and…
Applicability of Independent Director and provision relating to Eligibility Introduction : It is important to know that who can be Independent director and which are the companies that are mandatorily required to appoint Independent directors. Whether there is any amendment which has been made in the definition of Independent Director; In this article we will…
Maintenance of Books of Account – Ind-As 24 Introduction : In era where technology as substantially replaced the usage of man-power; our portal provides service where on the basis of raw data our experts will ensure complete maintenance of books of accounts, which in turn will allow the assessee to focus on his main business.…