The SignalX Blog - Diligence AI

CONNECTED PARTY vs RELATED PARTY under IBC

Section 29A (IBC) Due Diligence

CONNECTED PARTY vs RELATED PARTY under IBC

A 'Connected Person' under the IBC often refers to a person within the immediate company network. The definition highlights one key differentiator: the existence of a personal relationship between the company and the person. Read on to understand the nuances of identifying a Connected Person.

[New Feature Alert] - Aliases, Peer Comparables and more!

Product & Company Updates

[New Feature Alert] - Aliases, Peer Comparables and more!

Now include Aliases in your due diligence checks. Toggle between different types of pre-built SignalX reports to get more relevant, customised data.

Anti Money Laundering Legislation in India - The Price of PayPal’s Non-Compliance

Enhanced Due DIligence

Anti Money Laundering Legislation in India - The Price of PayPal’s Non-Compliance

PayPal has been hit by Rs. 96 Lakh penalty by the Financial Intelligence Unit (FIU) for alleged contravention of the anti-money laundering law and accused of 'concealing' suspect financial transactions and abetting "disintegration" of India's financial system.

Suspension of Insolvency Proceedings in India

Enhanced Due DIligence

Suspension of Insolvency Proceedings in India

A three-month extension of the suspension of insolvency proceedings has been issued by the Corporate Affairs Ministry, in furtherance of the Insolvency and Bankruptcy Ordinance, 2020.

PUFE TRANSACTIONS UNDER IBC: A GUIDE TO BUYING DISTRESSED ASSETS

Vendor Due Diligence

PUFE TRANSACTIONS UNDER IBC: A GUIDE TO BUYING DISTRESSED ASSETS

PUFE Transactions are covered under sections 43, 45, 66, and 50 of the Insolvency and Bankruptcy Code, 2016. It lists four types of vulnerable transactions, namely Preferential, Undervalued, Fraudulent, and Extortionate.

Definition and Concept of Related Party

Section 29A (IBC) Due Diligence

Definition and Concept of Related Party

The term Related Party is given under Section 5(24) of the

Decoding the Position of MSMEs under the IBC Regime

Enhanced Due DIligence

Decoding the Position of MSMEs under the IBC Regime

MSMEs have to resort to the standard Corporate Insolvency Resolution Process for maximization of value of assets.

FinCEN Files: Financial Crime Compliance & The Need for an Anti-Money-Laundering Whistleblower Program

Enhanced Due DIligence

FinCEN Files: Financial Crime Compliance & The Need for an Anti-Money-Laundering Whistleblower Program

FinCEN Files are a set of over 2,100 “Suspicious Activity Reports” (SARs) and other documents, filed by banks with the United States Department of the Treasury’s Financial Crime Enforcement Network.

Section 29A of Insolvency and Bankruptcy Code- Resolution over liquidation?

Section 29A (IBC) Due Diligence

Section 29A of Insolvency and Bankruptcy Code- Resolution over liquidation?

Section 29A is a restrictive provision and specifically lists down the persons who are not eligible to be resolution applicants. It is relevant to the sale during liquidation, as well as sale outside the liquidation process.