CORPORATE NCLT & BANKING, FINANCE AND INSURANCE LAWYER (BFI) :
Specialization as India’s best and most experienced Commercial & Corporate Lawyer, NCLT, Insolvency & Bankruptcy, Banking Finance Insurance (BFI) rendered / rendering professional services to the Public Sector, Private Sector, Multinational Corporates, Financial Institutions and Individuals & NRI clients.
CORPORATE & COMMERCIAL LAWYER:
Corporate Law is an essential branch of commercial law, which comply and govern corporates and ensures corporate activities such as formation of corporates, operations & management pertaining to corporates.
Corporate law is defined as rules & regulations that manages formation and operation of corporations.
It is the legal entities which controls conduct of the business.
NATIONAL COMPANY LAW TRIBUNAL (NCLT):
Central Government has constituted national company law tribunal under Companies Act, 2013 which came into effect on 1 June 2016.
The proceedings under companies Act are pertaining to:
- Reconstruction & Winding up,
- Agreements of companies are disposed of by the NCLT.
The NCLT is adjudicating authority for the insolvency resolutions procedure of Companies Limited Liability Partnership under IBC code 2016.
Orders of NCLT can be appealed in the National Company Law Appellant Tribunal and further can be appealed in Supreme Court of India on the ground of Law.
INSOLVENCY AND BANKRUPTCY:
Insolvency and Bankruptcy related cases
are dealt under Insolvency and Bankruptcy Code, 2016 (IBC). IBC was firstly introduced in Lok Sabha in 2015, commenced with effect from 29 May 2016.
IBC is a time bound process.
Insolvency is pertaining to economic distress, whereas insolvency is the process which decides when the company can no longer meet their financial liabilities & obligations to the lenders. In the process of Insolvency proceedings, generally, company and the creditors together try to settle their dispute through alternate dispute resolution proceedings. Insolvency mostly arises due to poor cash flow in the company.
is a legal process wherein court orders and further decides how the insolvent debtor has to deal with unpaid obligations for some or all the debts which is imposed by the court order. Bankruptcy is a legal proceeding starts by the debtors viz. a viz. the debts from the creditors.
Bankruptcy and Insolvency Court/ Tribunals:
The Code has two tribunals for the process of insolvency resolution:
National Company Law Tribunal for companies & limited liability Partnership Companies.
Debt Recovery Tribunal for Individual and Partnership.
Insolvency and Bankruptcy Code, 2016 (IBC) For:
- Companies and,
- Partnership Firms.
BANKING, FINANCE AND INSURANCE LAW (BFI):
In India, Banking law is regulated by the Banking Regulation Act, 1949.
Banking Law provides:
Banking Law regulates to:
- A statutory and comprehensive formal structure to banking regulation.
- Licensing & Control.
- Public Sector Banks (PSBs).
- Scheduled Commercial Banks (SEBs).
- Regional Rural Banks (RRBs) & Cooperative Banks.
- Financial & NBFs.
In India, Financial Law regulates by the Finance Act.
The Central Government every year through financial budget proposal give its effect and reviewed the finance act every financial year.
This Finance act deals with:
- Direct Tax.
- Indirect Tax.
- Other finance tax related effects.
INSURANCE LAW :
In India, The Insurance law is governed under:
- Indian Life Assurance Companies Act 1912,
- Insurance Act 1938,
- Marine Law 1963,
- Life Insurance Cooperation Act 1956,
- General Insurance Business Regulation 1972 adopted by British Insurance Law and,
regulates by Insurance Regulatory and Development Authority Of India (IRDA).