With numerous companies facing the wrath of the COVID-19 pandemic and the resulting financial challenges, the Insolvency and Bankruptcy Code ("IBC"), still in its early stages, has sparked a lot of debate.
Due Diligence is a critical exercise before initiating any new business relationship, yet tends to get tedious. With teams adapting to remote work models, AI has emerged as a hero in the Due Diligence landscape. Here's how AI can help you run efficient & accurate risk assessments.
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The latest amendment to the IBC renders Promoters of a company ineligible to participate as a resolution applicant.
Due diligence is important before investing in a company or a firm. Siemens Gamesa Renewable Energy's India Unit recently fired a top executive over lack of DD. Internal investigations found that he failed to conduct appropriate DD when engaging a consultancy with a political connection.
Wilful defaulters are considered as entities that do not pay back money despite the ability to do so. The concept of 'Wilful Defaulter' has been explained by the Master Circular issued by RBI (under the Banking Regulation Act, 1949).
Shell companies are entities that have no active operations but are set up for reducing tax liabilities, raising capital, and oftentimes, for laundering money, hiding ownership.
An Associate Company is a company which is significantly influenced by another company but is not a subsidiary of the company having such influence. Understand the nuances of the definition of an associate company, how it appears in IBC, Companies Act & Indian Accounting Standards.