Company law

NCLT DECISION: Hytone Merchants v. Satabadi Investments Consultants

NCLT DECISION: Hytone Merchants v. Satabadi Investments Consultants

  In “Hytone Merchants Pvt Ltd v. Satabadi Investments Consultants Pvt. Ltd.”[2], the National Company Law Tribunal (Hereinafter referred as “NCLT”) retained that the Adjudicating Authority (Hereinafter referred as “AA”) could indeed refuse to admit a somewhat complete application under section 7[3] of the Insolvency and Bankruptcy Code, 2016 (Hereinafter referred as “IBC”) once there are strong indications of embezzlement, connivance, or malicious intent under section 65 of the IBC. The NCLAT, notably, chose to disregard the petition on its own motion under section 65[4], implying that the corporate debtor never claimed the application had been fraudulent or motivated by animosity. Key…
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Private Placement

Private Placement

PRIVATE PLACEMENT UNDER COMPANIES ACT,2013 INTRODUCTION Whenever company wants to raise funds, for the expansion of business or for new projects, they can either take loan from the bank or financial institutions or by issue of share capital. Part II of chapter III of Companies Act,2013 talks about private placement. The issue of share capital is not for public at large, but only for selected people or groups. A company may make a private placement through issue of offer letters to selected groups or people. WHAT IS PRIVATE PLACEMENT Companies act, 2013 provides various option for raising finds and issue…
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