Their bank accounts have been frozen. State governments have been told to restrict sales and transfers of real estate assets these companies own.
Veena Mani reports.
Those involved in the discussions say the guidelines for selection of bidders in insolvency cases need to be transparent, otherwise anyone who loses out could take legal recourse, leading to wastage of time and derailing the whole process.
Even though the powers of the board of directors stand suspended once a company's insolvency process begins, it does not absolve the directors from actions taken up to two years earlier.
The government plans to rationalise trade margins for many other medical devices, besides stents and knee implants.
The tax imposed on buyback of shares and employee stock options is different in case of listed and unlisted companies, says Sudipto Dey
Her appointment as World Health Organisation's deputy director offers an opportunity to push for improving the medical research environment in India.
With the amendment, firms like EY and Deloitte can work as resolution professionals instead of only their partners enrolling as insolvency professionals.
'If you wish to expand your business in a competitive global environment, you have no option but to be ethical.'
Under the Companies Act, all the rights of at least 300,000 disqualified directors cease to have any validity.
P P Chaudhary the newly-appointed minister of state for corporate affairs, is monitoring and coordinating actions against shell companies.
Regulators find it difficult to track down illicit transactions with no limit on the number of subsidiaries.
Data from Tamil Naduindicates that NEET favours likely CBSE students. CBSE students took every third seat available in government medical colleges in the state.
26 chartered accountants associated with such shell companies have also been identified
Vikram Bakshi says the 169 stores will remain open, McDonald's says it will take steps to enforce termination.
Some experts says that the high net-worth requirement of Rs 50 crore for setting up an IU is a deterrent.
Since the inception of the code, the threat of insolvency has brought many debtors in line
Businesses that are engaged in both taxable and non-GST supply have re-structured themselves into separate entities to avoid elaborate compliance, says Sudipto Dey.
Any business that makes inter-state supply is outside the ambit of the scheme
'A 180-days period -- for insolvency resolution -- is aggressive, but by no means inadequate.'
Insolvency professionals feel the bankruptcy code will deter defaulters, but NPAs will not cease unless banks are sensitised on credit appraisal and experts are hired by banks to inspect what is happening with their loans.
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