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Personal Guarantors to Corporate Debtors can now be made liable under IBC

The Supreme Court in the case of Lalit Kumar Jain v. Union of India has upheld the constitutionality of the Notification dated 15.11.2019 which was issued by the Ministry of Corporate Affairs. Through this Notification, the central government has exercised its power conferred by section 1(3) of the Insolvency and Bankruptcy Code, 2016, and has..

Indirect Tax Practice

At AKM, we provide end-to-end indirect tax solutions and specialise in GST, Customs and Foreign Trade Policy. We offer comprehensive and strategic advisory on corporate tax planning, tax structuring and trade assistance across a wide spectrum of segments and industries such as Health, Construction, Automotive, Pharmaceuticals, Agriculture, STEM, Information Technology, Transport and e-Commerce. Our indirect..

No joint liability under Section 138 Negotiable Instruments Act unless the account on which cheque was drawn is jointly maintained: Supreme Court

Section 138 of the Negotiable Instruments Act provides with the provision of punishment for the dishonor of cheques on the grounds of insufficiency of funds or that the cheque exceeds the amount arranged to be paid from that bank account by an agreement made with the bank of the person who issued the cheque. To..

Union Budget 2021-22 and the Proposed Reforms in Corporate Sector: A Bird’s Eye View

In its 71st Republican Year, India has presented its first budget in the digital format through a Made in India Tablet moving away from the traditional bahi-khata mode of presentation in order to promote digitalization. This year’s budget has been a ray of hope in the troubled times of pandemic and has captured the attention..

CSR 2021-An Overview

Corporate Social Responsibility (CSR)is a business model which makes a company accountable to itself, its stakeholders and the public. Basically, engaging in CSR means contributing positively towards the enhancement society and the environment. Many companies view this as an integral part of brand image and outlook. CSR activities help in establishing a healthy bond among..

International Best Practices for Whistleblowers

Corruption, frauds and illegal activities have become one of the greatest concerns in the 21st century. Though proper laws and legislations are implemented all over the world, the problem still persists in several countries. To detect and prevent such malpractices in organizations, whistleblowing is used as one of the effective means these days. But often..

Cryptocurrency and Regulation of Official Digital Currency Bill, 2021

Introduction Cryptocurrency is an online medium of exchange used by the users of public key and private key, the most common form of cryptocurrency is the bitcoin which is now held by millions of people across the globe. With the onset of Indian government’s implementation of cryptocurrency and regulation of official digital currency bill, which..

Union Budget 2021-22: What’s Brewing for Foreign Investors in India?

With the budget for the year 2021-22 being rolled out, foreign investors who are interested in investing in India have started analysing the proposals that Indian government has proposed in the budget so that they could make potential investment decisions in a timely manner. This year’s budget has not missed the target and has ensured..

RBI’s New and Stricter Approach to Regulate NBFCs

Regulating Non-Banking Financial Sector (NBFC) has always been at the top in the Reserve Bank of India’s (RBI) checklist as this sector has evolved manifold times in the recent years. As per RBI, NBFC’s are now more than a quarter of the size of banks and therefore, they act as a spare tyre to the..

Indemnification of Vaccine makers during COVID-19: Analysing the Global Position

Why Vaccine Developers are asking for Indemnification? In the tough times of Covid-19, ripples of positive waves have now hit the shore as vaccine developers and some of the nations have begun the vaccination drives and have already started distributing vaccines. Vaccination is seen as the last bastion of hope in order to curb the..

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