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Since the National Company Law Tribunal was set up 18months ago, over 4, 300 cases have been filed at its various benches for resolution process. The insolvency and bankruptcy code came into existence with the enactment of the Insolvency and Bankruptcy Code in May 2016, replacing the Company Law Board regime. KMLAWASSOCIATES provides expert legal advice and hassle free resolution of insolvency and bankruptcy related matters in Delhi.
NCLT AND INSOLVENCY 1. The insolvency and bankruptcy code was enacted with an objective to find solutions for stressed assets which may have arisen out of non performing assets and liquidation was to be the last resort. 2. NCLT is quasi judicial authority for dealing with corporate disputes which are of civil nature arising under the Companies Act. Although raison 'd' etre of NCLT is to work like normal court of law without any bias and in accordance with principles of natural justice, it's order could assist any resolving a situation or rectifying any wrong done by any corporate. NCLT is empowered to cancel the registration of the company and to dissolve it. 3. The future of big ticket stressed accounts with loans of over Rs. 4 trillion is uncertain and resolution may not be in the offing. Lenders are left with no choice but to take such companies to bankruptcy Court. The big question is who is taking over these companies? what are the credentials of the Companies who have become predators. We at Km Law Associates are keeping a complete track of such companies which are sitting pretty on NCLT shoulders like hawks, waiting for the pray to fall in their lap. Km Law Associates are the corporate advisors for some of the companies who have been taken to NCLT by banks and creditors and have given credible solutions.
'HAPPILY EVER AFTER' FOR 'HONEYMOON BRIDES' There are happy times in store for Desi brides who suffer harassment at the hands of NRI husbands.As the Centre is proposing changes in the Code of Criminal Procedure, it will be a wake up call for NRIs who abandon their wives soon after the marriage is solemnised. In the CrPC changes being proposed, the NRI husbands who abandon their wives in India and fail to honour the court summons, will be declared 'absconders' after 3 summons and their names will be added to a list of absconders on the MEA website. Also, the properties of these absconding NRI husbands along with their parents property will get attached. There are a number of risks in a marriage between NRIs and Desi brides;like abandonment, mental and physical abuse, huge dowry demands, multiple marriages of NRIs, child custody, denial of maintenance, technical legal obstacles in foreign lands and limited jurisdiction of Indian Courts in such matters as husbands refuse to come to India to submit to the trial and do not even respond in any way to summons. The proposed changes in CrPC will go a long way in protecting Desi girls from getting trapped in deceptive matrimony with overseas Indians. KMLAWASSOCIATES, a Dwarka based law firm provides hassle free, timely and most professional legal services in divorce matters. The competent team of KMLAWASSOCIATES, led by a thorough professional, has successfully represented clients in mutual, contested and NRI divorce matters in the courts of Saket, Tishazari , Patiala House, Karkardooma, Rohini, Dwarka and Delhi NCR.
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