Articles and Updates

• Phoenix Legal - 02-01-2018

The Insolvency and Bankruptcy Code, 2016 (Code) was enacted for a time bound insolvency resolution process with the primary aim of rehabilitating financially distressed entities while at the same time maximizing the value of assets of the financially distressed entities. Since the enactment of the Code on May 11, 2016, the regional National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT) have churned out a number of judicial decisions in a timely manner that have clarified the interpretation, operation and applicability of several key provisions of the Code.

• Phoenix Legal - 21-12-2017

Sometime back social media was abuzz with before and after pictures of invoices of some goods and services, showing price increase immediately after decrease in the rate of GST. This ripple was created when GST Council in its meeting held at Guwahati, reduced rate of GST on host of goods and services, including restaurant services.

• Phoenix Legal - 28-11-2017

Two days prior to observance of 'Anti-Black Money Day' by the Government of India to mark the first anniversary of demonetisation, comes the largest ever leak of financial data dubbed the 'Paradise Papers'. The Hunk of 13.4 million documents relating to offshore investment, leaked to the public on 5 November, 2017. It is suggested that the documents originate from the offshore law firm Appleby, the corporate services providers Estera and Asiaciti Trust, and business registries in 19 tax jurisdictions, often referred to as 'tax paradises'.

• Sawant Singh and Aditya Bhargava - 15-11-2017

On 20 July, foreign portfolio investors (FPIs) and investors in rupee denominated bonds (RDBs) got an unwelcome surprise in the form of a circular from the Securities and Exchange Board of India (SEBI) that effectively halted the subscription of corporate debt by FPIs and other foreign investors. But twin late-September moves by SEBI and the Reserve Bank of India (RBI) have restored some level of certainty for FPIs and foreign investors as well as Indian borrowers.

• - 06-11-2017

Paradise Papers’ revelations — a new treasure-trove of information on the offshore finances of the super rich — sent the Narendra Modi government into a scurry on Monday, with the Centre deciding to reconstitute the multi-agency group set up last April for Panama Papers’ probe.