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August 8, 2023
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MINISTRY OF CORPORATE AFFAIRS (MCA) Aviation Ministry, MCA take different flight paths on IBC moratorium The Ministry of Civil Aviation (MoCA) has requested that leased aircraft be exempted from the asset moratorium rule enforced by India’s Insolvency and Bankruptcy Code (IBC) during the insolvency resolution of an airline, due to fears it could increase leasing...

July 17, 2023
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MINISTRY OF CORPORATE AFFAIRS(MCA) Moratorium Inapplicable To Contracts Entered Into By The CD Under Oilfields (Regulation And Development) Act The Ministry of Corporate Affairs, Government of India, has issued a notification dated 14.06.2023, notifying that Section 14(1) of the Insolvency and Bankruptcy Code, 2016 (“IBC”) would be inapplicable to agreements/transactions/arrangements entered into by the Corporate...

June 9, 2023
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MINISTRY OF CORPORATE AFFAIRS (MCA) MCA notifies Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2023 The Ministry of Corporate Affairs has issued an amendment to the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. The amendment introduces streamlined procedures for handling objections and suggestions regarding schemes of merger or amalgamation. It sets clear timelines for the...

June 8, 2023
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Ministry of Corporate Affairs   Companies (Indian Accounting Standards) Amendment Rules, 2023 The Ministry of Corporate Affairs (MCA) has in consultation with the National Financial Reporting Authority has issued the Companies (Indian Accounting Standards) Amendment Rules, 2022. These amendment rules were notified on 31st March, 2023. The amendment rules have introduced a provision for ‘deferred...

April 25, 2023
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Ministry of Corporate Affairs Government to set up Centre for Processing Accelerated Corporate Exit The Indian government has announced plans to set up a Centre for Processing Accelerated Corporate Exit (PACE) to facilitate the expedited closure of unviable companies. The PACE will act as a single-window clearance system for companies seeking to wind up their...

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