For the first time such a large loan resolution has been achieved through upfront payment received by Banks through sale of a company. This is a record step towards resolving the legacy of unprecedented amount… Congrats to PM Narendra Modi ji & Arun Jaitley ji for a historic breakthrough in resolving legacy issues of Banks. Lenders recovered almost entire principal loan of Bhushan Steel through Rs 36,400 cr transparent bid by Tata Steel and also got 12% stake in the company.‬ Liquidation value of Bhushan Steel was Rs 14,541 cr but creditors received almost 4 times the amount. This was possible due to the robust and transparent Insolvency & Bankruptcy Code brought by this Government.

Seeking to *crack down on shell companies and create transparency* in the corporate structure, the government has come out with *stringent rules on beneficial ownership to help it track down the true owner* of a… Shell co crackdown – _Centre tightens rules on ownership disclosure of companies_

As part of updating its registry, MCA would be conducting KYC of all Directors of all companies annually through a new eform viz. DIR-3 KYC to be notified and deployed shortly. Accordingly, every Director who… MCA Updates

Please find the latest MCA updates dated 14/06/2018 Commencement Notification of sections of Companies Act, 2017 Commencement notification http://www.mca.gov.in/…/CommNotificatio1306_14062018.pdf Companies (Management and Administration) 2nd Amendment Rules, 2018. http://www.mca.gov.in/…/Company2ndAmndRule13062018… Companies (Significant Beneficial Owners) Rules, 2018. http://www.mca.gov.in/…/CompaniesSignificantBeneficial1…… Dear Professionals,

Further, B2C transactions to end customers of any value do not require e-way bill for intra State movement in Delhi but requires to carry invoice, challan etc. Notification applicable w.e.f. 16.06.2018.

Ministry has introduced a Single Master Form introduced for reporting Foreign investment in India. Prior to implementation, RBI will provide an interface to Indian entities to input data on foreign investment in specified format between… Dear Professionals,

Notice of Strike off issued. List below: http://www.mca.gov.in/Min…/pdf/NoticeLLPDElhi_30052018.pdf Regards, Team BKA. MCA.GOV.IN www.mca.gov.in

ROC, Delhi & Haryana in its drive to clean the registry has issued notice of striking off of 1171 LLP’s under Section 75 of LLP Act, 2008 read with Rule 37 of LLP Rules, 2009.… MCA – LLP