Tax Management India. Com
                        Law and Practice: A Digital eBook ...

Category of Documents

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Manuals SMS News Articles
Highlights
D. Forum
What's New

Share:      

        Home        
 
Home Acts & Rules Insolvency and Bankruptcy Act Insolvency and Bankruptcy Code, 2016 Chapters List Chapter VI (of Part II) ADJUDICATING AUTHORITY FOR CORPORATE PERSONS This
← Previous Next →
  • Login
  • Notifications
  • Plus+

 

User Login
Username  
Password  
Stay sign in     

Forget password       New User/ Regiser



 

Section 66 - Fraudulent trading or wrongful trading. - Insolvency and Bankruptcy Code, 2016

Extract

..... Fraudulent trading or wrongful trading. 66. (1) If during the corporate insolvency resolution process or a liquidation process, it is found that any business of the corporate debtor has been carried on with intent to defraud creditors of the corporate debtor or for any fraudulent purpose, the Adjudicating Authority may on the application of the resolution professional pass an order that any persons who were knowingly parties to the carrying on of the business in such manner shall be liable to ma .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Section 66 - Fraudulent trading or wrongful trading. - Insolvency and Bankruptcy Code, 2016

X X   X X   Extracts   X X   X X

..... orporate insolvency resolution process is suspended as per section 10A.] Explanation.-For the purposes of this section a director or partner of the corporate debtor, as the case may be, shall be deemed to have exercised due diligence if such diligence was reasonably expected of a person carrying out the same functions as are carried out by such director or partner, as the case may be, in relation to the corporate debtor. *********** Notes:- 1. Come into the force w.e.f. 01-12-2016 [F. N. 30/7/20 .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Section 66 - Fraudulent trading or wrongful trading. - Insolvency and Bankruptcy Code, 2016

X X   X X   Extracts   X X   X X

 

← Previous Next →

 

 

 

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||