Loading...

⚠ ✕
❮ Top
☎ Help
☰
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback✕

Contact Us At :

✉ E-mail: [email protected]

✆ Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search ✕
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
╳
Add to...
You have not created any category. Kindly create one to bookmark this item!
✕
Create New Category
Hide
Title :
Description :
❮❮ Hide
❮ Default View
Expand ❯❯
Close ✕
🔎 Filters / Advanced Search ❯
TEXT

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In
Main Text + AI Text ❯
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ---- ❯
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ---- ❯
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ---- ❯
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
☰   Show Results ❯
    15th Meeting of ASEAN-India Trade in Goods Agreement (AITIGA) Joint Committee held during 6-9 October 2026
    Commerce Secretary Shri Rajesh Agrawal Highlights Need for Rigorous Legal Thinking at CTIL’s 9th Anniversary Celebration
    Release of Draft Guideline for Compilation Gross State Domestic Product (GSDP) Estimates by Expenditure Approach with Base Year 2022-23
    NLMC Invites Bids for Monetisation of 5.119-Acre Prime Freehold Land Parcel of HIL (India) Limited in New Delhi
    Union Finance Minister Smt. Nirmala Sitharaman on visit to Singapore for high-level meetings with Singapore Leadership and CEOs of business firms in S...
    Recommendations of the 57th Meeting of the GST Council
    India Began Building Bridges When the World Was Building Walls: Union Minister of Commerce and Industry Shri Piyush Goyal
    CCI approves acquisition of sole control over Omega-Meyer Ltd and Meyer Organics by BCPE Wellbeing Holdco Two Ltd. and Integral Investments Asia IV Lt...
    CCI approves proposed acquisition of 100% shareholding of Vishavari Tollway Ltd and nine SPVs operating road assets in India by Concessoc 41 SAS
    CCI approves acquisition of certain shareholding in Prestige Hospitality Ventures Limited by CPP Investment Board Pvt. Holdings (4) Inc.
    CCI approves proposed combination related to internal restructuring of the JSW Group
    NLMC Organises Mock E-Auction Training Ahead of RINL Land E-Auction
    Central Bureau of Narcotics (CBN) conducts Jan Samvad at Malana in Kullu District to create preventive drug awareness and to promote development
    Adopted Joint Statement after the India-UK Financial Markets Dialogue 2026, held in London
    Commerce Secretary Shri Rajesh Agrawal Calls for Greater Utilisation of India-EFTA TEPA Opportunities
    Commerce and Industry Minister Shri Piyush Goyal Holds Meetings with Leading U.S. Companies in New York to Strengthen India–U.S. Trade and Investmen...
    Monetary Policy Statement, 2026-27 Resolution of the Monetary Policy Committee October 5 to 7, 2026
    An Approach Paper on Expanding the scope and coverage for the Index of Services Production
    DRI cracks down on cross-border gold smuggling along Indo-Bangladesh border; seizes over 8.3 kg foreign-origin gold; 4 arrested
    Secretary, DFS, Shri Sanjay Lohiya chairs review meeting on progress of Financial Inclusion Schemes with senior executives of Public Sector and Privat...
❮
❯
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

News
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
October 9, 2026
Show AI Summary
AITIGA review negotiations face time-bound subcommittee deliverables to resolve policy issues and modernise trade arrangements.
The AITIGA Joint Committee directed its sub-committees to accelerate pending review chapters through firm, time-bound deliverables and close coordination. Work covers legal and institutional issues, national treatment and market access, and rules of origin. ASEAN and India reaffirmed their commitment to resolve outstanding policy issues, deepen economic integration, and modernise the Agreement into a balanced and mutually beneficial framework strengthening bilateral trade.
October 9, 2026
Show AI Summary
International investment law requires balance between investment protection and States' regulatory authority amid sustainability and digital trade challenges.
International trade and investment law are increasingly shaped by sustainability-linked trade measures and digital trade and require rigorous legal analysis. CTIL supports trade capacity through legal analysis for free trade agreement negotiations, WTO processes, dispute settlement and institutional knowledge-building. International investment law increasingly recognises States' regulatory authority alongside investment protection, with institutionalisation, legitimacy and the balance between investment and public power identified as central concerns. Research and capacity-building also address climate, sustainability, supply chains, artificial intelligence and other emerging trade-policy areas.
October 9, 2026
Show AI Summary
Expenditure-side GSDP compilation framework standardises regional estimates through common methods, local data sources, and allocation indicators.
Draft guidelines establish a uniform framework for compiling expenditure-side Gross State Domestic Product estimates using base year 2022-23. They cover data sources, estimation procedures and methodologies for private and government consumption, gross fixed capital formation, inventory changes, valuables and net exports. State-specific data and allocation indicators are preferred, while recommended allocation methods support consistent estimates where direct subnational data are unavailable. The approach is intended to harmonise estimation practices and strengthen subnational national accounts capacity.
October 9, 2026
Show AI Summary
Freehold land monetisation proceeds through a two-stage electronic sale requiring technical bids and an Earnest Money Deposit.
Monetisation of a 5.119-acre freehold industrial land parcel owned by HIL (India) Limited at Najafgarh Industrial Area, New Delhi, is facilitated through an E-Tender followed by E-Auction. Eligible bidders must complete registration, submit technical bids, and furnish the required Earnest Money Deposit or Bank Guarantee by the stipulated deadline. Sale is subject to "as is where is", "as is what is", "whatever there is" and no-recourse or no-complaint conditions. The exact land extent is to be determined through a joint survey with the successful bidder.
October 9, 2026
Show AI Summary
India-Singapore investment cooperation advances through investor engagement, financial connectivity, capital-market participation, and support for identified investment opportunities.
India-Singapore investment cooperation is to be strengthened through engagements with political leadership, business representatives and global institutional investors. Discussions cover trade and investment, digital financial connectivity, capital markets, taxation, advanced manufacturing, skilling and aviation. The National Investment and Infrastructure Fund and GIFT City are identified as channels for Singaporean capital participation through investment vehicles and funds. The Ministry of Finance will facilitate connections between investors, Indian companies, financial institutions and State Governments for identified investment opportunities.
October 8, 2026
Show AI Summary
GST process reforms propose automated registration, refunds and return corrections while easing enforcement, credit access and trade compliance.
GST process reforms propose automated registration, registration amendments and cancellation, return reconciliation, input tax credit correction, and phased system-based refund processing. Standardised demand notices and adjudication safeguards are proposed alongside lower penalties, capped penalty-only appeal pre-deposits, withdrawal of arrest powers and narrowed prosecution provisions. Input tax credit reforms would expand refunds and remove specified blocked-credit restrictions, while export measures would broaden zero-rated and export-of-services eligibility. Goods interception would be intelligence-based and authorised, with further compliance relief for small taxpayers and targeted classification, exemption and reverse-charge measures.
October 8, 2026
Show AI Summary
Free trade agreement utilisation enables MSME market access, rules-of-origin awareness, export participation, and foreign investment opportunities while protecting sensitive sectors.
Free Trade Agreements are positioned to preserve sensitive domestic interests, particularly agriculture, fisheries and MSMEs, while widening market access for agricultural, marine, engineering, precision and electronic products and facilitating foreign investment. Proposed FTA utilisation desks across State Councils would assist MSMEs in using preferential arrangements, understanding rules of origin and market-access opportunities, participating in delegations and exhibitions, and presenting products and technologies to overseas markets.
October 8, 2026
Show AI Summary
Sole-control acquisition of nutraceutical and pharmaceutical businesses receives competition approval for Bain Capital-managed investment funds.
Competition Commission of India approval permits BCPE Wellbeing Holdco Two Limited and Integral Investments Asia IV Limited, funds managed or advised by Bain Capital, to acquire sole control over Omega-Meyer Limited and Meyer Organics Private Limited. The target businesses provide nutraceuticals globally and in India, while Meyer Organics Private Limited also produces and supplies certain over-the-counter and prescription finished-dose pharmaceuticals in India.
October 8, 2026
Show AI Summary
Highway asset acquisition approval covers full ownership transfer of a tollway operator and road-project special purpose vehicles.
Competition Commission of India approval covers the acquisition by Concessoc 41 SAS of the entire shareholding in Vishavari Tollway Private Limited and nine special purpose vehicles. The target entities operate designated national-highway stretches in Andhra Pradesh, Odisha and Gujarat, while Vishavari Tollway Private Limited provides operation and maintenance and engineering, procurement and construction services for those highway assets.
October 8, 2026
Show AI Summary
Competition clearance for hospitality share acquisition permits investment in a company owning and developing hotel and serviced apartment assets.
Competition Commission of India approved the proposed combination involving CPP Investment Board Private Holdings (4) Inc.'s acquisition of certain shareholding in Prestige Hospitality Ventures Limited. The target is an Indian public limited company within the Prestige group and owns and develops hospitality assets, including hotels and serviced apartments. The acquirer is incorporated in Canada and is managed by Canada Pension Plan Investment Board.
October 8, 2026
Show AI Summary
Internal group restructuring receives merger-control approval for amalgamating an integrated steel producer into the group's steel manufacturer.
Merger-control approval covers the proposed internal JSW Group restructuring through amalgamation of BMM Ispat Limited into JSW Steel Limited. The amalgamation would convert the group's majority interest in BMM into full ownership and is intended to enhance operational, financial and organisational efficiencies through economies of scale, resource pooling and capital rationalisation. BMM is commercially integrated in the group's supply chain through intra-group sales and procurements.
October 7, 2026
Show AI Summary
Transparent land e-auction procedures support bidder preparedness through mock training, registration and earnest-money requirements for phased asset monetisation.
National Land Monetization Corporation is facilitating a two-phase e-tender-cum-e-auction of 459 encumbrance-free land parcels of Rashtriya Ispat Nigam Limited through the RailTel E-Nivida e-Procurement Platform. Participation requires registration, fulfilment of prescribed requirements and submission of earnest money deposit within the applicable deadlines. Physical and online mock e-auction training familiarises prospective bidders with the bidding interface and participation procedure. Investor outreach provides information on plot details, eligibility requirements, registration and bidding conditions.
October 7, 2026
Show AI Summary
Preventive narcotics outreach promotes drug awareness, community participation, and sustainable livelihood alternatives to discourage illicit cannabis cultivation.
Preventive outreach in Malana village promoted drug awareness, youth engagement, community participation and alternative development in an area associated with illicit cannabis cultivation. Residents were sensitised to the harmful effects of cannabis, charas and hashish oil consumption and encouraged to pursue sustainable alternatives, including apiculture, animal husbandry, dairy activities and tourism. Community discussions addressed livelihood barriers, ecological concerns, and commitments to refrain from drug consumption and discourage illicit cannabis cultivation.
October 7, 2026
Show AI Summary
Cross-border financial cooperation guides work on market access, sustainable finance, fintech safeguards, and payment interoperability.
India-UK financial-markets cooperation covers capital-market connectivity, cross-border listings, investor access and development of GIFT IFSC as an international financial centre. Engagement also addresses insurance, pensions, asset management, sustainable-finance disclosures and cross-border investment. Fintech cooperation includes digital public infrastructure, central bank digital currencies, data exchange, responsible artificial intelligence, fraud prevention, cyber security and operational resilience. Cross-border payments work prioritises reduced frictions, transparency, efficiency and interoperability of electronic payment infrastructures.
October 7, 2026
Show AI Summary
Investment commitments and tariff predictability under India-EFTA TEPA support market access, supply-chain planning, and long-term bilateral trade.
India-EFTA TEPA establishes reciprocal market-access commitments, with EFTA coverage extending to most Indian exports and full coverage for non-agricultural products. Tariff predictability is intended to support investment planning, supply-chain development and longer-term business partnerships. Agricultural opportunities may arise where duties have been reduced to zero. Article 7.1 includes an investment commitment under which the EFTA States are to aim to increase foreign direct investment into India and facilitate employment generation within specified implementation periods.
October 7, 2026
Show AI Summary
Foreign investment engagement focuses on expanded partnerships across financial services, manufacturing, insurance, and emerging technologies in India.
India-U.S. trade and investment engagement was pursued through discussions with leading United States companies on expanding investment, partnerships and commercial operations in India. Financial-sector discussions addressed private equity, asset and wealth management, insurance, and financial services, including prospective engagement aligned with the objective of insurance access for all by 2047.
October 7, 2026
Show AI Summary
Policy repo rate recalibration responds to inflationary pressures, adopting calibrated tightening while future actions depend on growth and inflation conditions.
Monetary policy is recalibrated through an increase in the policy repo rate under the liquidity adjustment facility by 25 basis points to 5.50 per cent. The monetary policy stance shifts to calibrated tightening, indicating that near-term rate reductions are excluded and that subsequent action may consist of a rate increase or a pause, depending on evolving conditions and the outlook. Further rate action depends on growth-inflation developments, underlying inflation, broadening price pressures, second-round effects and demand impulses.
October 7, 2026
Show AI Summary
Index of Services Production expansion proposes broader service-sector coverage through education, health, residential care, public administration and defence.
The Index of Services Production is proposed to expand beyond its initial formal-sector coverage, which relies on high-frequency administrative data and GST outward-supplies data. Education, Human Health and Residential Care, and Public Administration and Defence are proposed for inclusion. Their incorporation would increase coverage of services-sector Gross Value Added and support aggregation of sub-sectoral indices into a unified measure of short-term services-sector movements. Stakeholder views are invited on the proposed methodology.
October 7, 2026
Show AI Summary
Cross-border gold smuggling enforcement addresses concealed foreign-origin gold transport through customs seizure, arrest, and investigation of organised networks.
Intelligence-led customs enforcement targeted cross-border gold smuggling through surveillance and interception of four persons travelling from a border route. Personal searches recovered foreign-origin gold biscuits concealed in specially tailored cloth waist belts. Seventy-two gold biscuits were seized under relevant provisions of the Customs Act, 1962, and the four persons were arrested. Investigation continues into organised networks and wider syndicates involved in the movement and distribution of smuggled gold.
October 6, 2026
Show AI Summary
Financial inclusion drives digital lending, insurance claim awareness, portal enrolment, and banking access for marginalised sections.
Banks were urged to expand brick-and-mortar branches and banking correspondent coverage in unbanked villages, strengthen digital outreach, and implement end-to-end digital loan processing. Working-capital lending for micro-enterprises through UPI-linked credit lines and credit cards was highlighted. Banks were also directed to increase awareness of insurance claim eligibility, exercise care in claim-related grievance handling, and enrol new PMJJBY and PMSBY beneficiaries through the Jan Suraksha portal.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Back

All News

Insolvency and Bankruptcy Code (Amendment) Act, 2018

January 20, 2018

Contents
Acts
Plus +
Summary
Note

Note

-

Bookmark

Print

Print

MINISTRY OF LAW AND JUSTICE

(Legislative Department)

New Delhi, the 19th January, 2018/Pausha 29, 1939 (Saka)

The following Act of Parliament received the assent of the President on the 18th January, 2018, and is hereby published for general information:-

THE INSOLVENCY AND BANKRUPTCY CODE (AMENDMENT) ACT, 2017

NO. 8 OF 2018

[18th January, 2018.]

An Act to amend the Insolvency and Bankruptcy Code, 2016.

BE it enacted by Parliament in the Sixty-eighth Year of the Republic of India as follows:-

1. Short title and commencement

(1) This Act may be called the Insolvency and Bankruptcy Code (Amendment) Act, 2018.

(2) It shall be deemed to have come into force on the 23rd day of November, 2017.

2. Amendment of section 2

In the Insolvency and Bankruptcy Code, 2016 (31 of 2016) (hereinafter referred to as the principal Act), in section 2,-

(i) in clause (d), the word "and" shall be omitted;

(ii) for clause (e), the following clauses shall be substituted, namely:-

"(e) personal guarantors to corporate debtors;

(f) partnership firms and proprietorship firms; and

(g) individuals, other than persons referred to in clause (e),".

3. Amendment of section 5

In section 5 of the principal Act,-

(a) for clause (25), the following clause shall be substituted, namely:-

'(25) "resolution applicant" means a person, who individually or jointly with any other person, submits a resolution plan to the resolution professional pursuant to the invitation made under clause (h) of sub-section (2) of section 25;';

(b) in clause (26), for the words "any person", the words "resolution applicant"

shall be substituted.

4. Amendment of section 25

In section 25 of the principal Act, in sub-section (2), for clause (h), the following clause shall be substituted, namely:-

"(h) invite prospective resolution applicants, who fulfil such criteria as may be laid down by him with the approval of committee of creditors, having regard to the complexity and scale of operations of the business of the corporate debtor and such other conditions as may be specified by the Board, to submit a resolution plan or plans.".

5. Insertion of new section 29A.

After section 29 of the principal Act, the following section shall be inserted, namely:-

Persons not eligible to be resolution applicant

"29A. A person shall not be eligible to submit a resolution plan, if such person, or any other person acting jointly or in concert with such person-

(a) is an undischarged insolvent;

(b) is a wilful defaulter in accordance with the guidelines of the Reserve Bank of India issued under the Banking Regulation Act, 1949 (10 of 1949);

(c) has an account, or an account of a corporate debtor under the management or control of such person or of whom such person is a promoter, classified as non-performing asset in accordance with the guidelines of the Reserve Bank of India issued under the Banking Regulation Act, 1949 (10 of 1949) and at least a period of one year has lapsed from the date of such classification till the date of commencement of the corporate insolvency resolution process of the corporate debtor:

Provided that the person shall be eligible to submit a resolution plan if such person makes payment of all overdue amounts with interest thereon and charges relating to non-performing asset accounts before submission of resolution plan;

(d) has been convicted for any offence punishable with imprisonment for two years or more;

(e) is disqualified to act as a director under the Companies Act, 2013 (18 of 2013);

(f) is prohibited by the Securities and Exchange Board of India from trading in securities or accessing the securities markets;

(g) has been a promoter or in the management or control of a corporate debtor in which a preferential transaction, undervalued transaction, extortionate credit transaction or fraudulent transaction has taken place and in respect of which an order has been made by the Adjudicating Authority under this Code;

(h) has executed an enforceable guarantee in favour of a creditor in respect of a corporate debtor against which an application for insolvency resolution made by such creditor has been admitted under this Code;

(i) has been subject to any disability, corresponding to clauses (a) to (h), under any law in a jurisdiction outside India; or

(j) has a connected person not eligible under clauses (a) to (i).

Explanation.- For the purposes of this clause, the expression "connected person" means-

(i) any person who is the promoter or in the management or control of the resolution applicant; or

(ii) any person who shall be the promoter or in management or control of the business of the corporate debtor during the implementation of the resolution plan; or

(iii) the holding company, subsidiary company, associate company or related party of a person referred to in clauses (i) and (ii):

Provided that nothing in clause (iii) of this Explanation shall apply to-

(A) a scheduled bank; or

(B) an asset reconstruction company registered with the Reserve Bank of India under section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002); or

(C) an Alternate Investment Fund registered with the Securities and Exchange Board of India.".

6. Amendment of section 30

In section 30 of the principal Act, for sub-section (4), the following sub-section shall be substituted, namely:-

"(4) The committee of creditors may approve a resolution plan by a vote of not less than seventy-five per cent. of voting share of the financial creditors, after considering its feasibility and viability, and such other requirements as may be specified by the Board:

Provided that the committee of creditors shall not approve a resolution plan, submitted before the commencement of the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017(Ord. 7 of 2017), where the resolution applicant is ineligible under section 29A and may require the resolution professional to invite a fresh resolution plan where no other resolution plan is available with it:

Provided further that where the resolution applicant referred to in the first proviso is ineligible under clause (c) of section 29A, the resolution applicant shall be allowed by the committee of creditors such period, not exceeding thirty days, to make payment of overdue amounts in accordance with the proviso to clause (c) of section 29A:

Provided also that nothing in the second proviso shall be construed as extension of period for the purposes of the proviso to sub-section (3) of section 12, and the corporate insolvency resolution process shall be completed within the period specified in that sub-section.”.

7. Amendment of section 35

In section 35 of the principal Act, in sub-section (1), in clause (f), the following proviso shall be inserted, namely:-

"Provided that the liquidator shall not sell the immovable and movable property or actionable claims of the corporate debtor in liquidation to any person who is not eligible to be a resolution applicant.".

8. Insertion of new section 235A.

After section 235 of the principal Act, the following section shall be inserted, namely:-

Punishment where no specific penalty or punishment is provided.

"235A. If any person contravenes any of the provisions of this Code or the rules or regulations made thereunder for which no penalty or punishment is provided in this Code, such person shall be punishable with fine which shall not be less than one lakh rupees but which may extend to two crore rupees.".

9. Amendment of section 240.

In section 240 of the principal Act, in sub-section (2),-

(i) after clause (s), the following clause shall be inserted, namely:-

"(sa) other conditions under clause (h) of sub-secton (2) of section 25;";

(ii) after clause (w), the following clause shall be inserted, namely:-

"(wa) other requirements under sub-section (4) of section 30;".

10. Repeal and savings

(1) The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017 (Ord. 7 of 2017) is hereby repealed.

(2) Notwithstanding such repeal, anything done or any action taken under the Insolvency and Bankruptcy Code, 2016 (31 of 2016), as amended by the said Ordinance, shall be deemed to have been done or taken under the corresponding provisions of the said Code, as amended by this Act.

DR. G. NARAYANA RAJU,

Secretary to the Govt. of India.

Topics

Acts Income Tax