Don’t let your ATO debt harm your business – SmartCompany.com.au

The Australian Taxation Office recently announced that it will take timely and stronger action against small businesses with outstanding debts. With stricter ATO penalties looming, staying on top of your returns is now more important than ever. Aside from initial penalties and your tax debt accruing interest, being behind on payments can start to negatively…

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Supreme Court stays insolvency resolution proceedings against Jaypee Infratech – Economic Times

NEW DELHI: The Supreme Court on Monday stayed insolvency resolution proceedings against Jaypee Infratech on a plea by buyers of homes in its projects in Noida, restoring the developers original board of directors and ordering resumption of all consumer cases filed against the company and its promoters. The court issued notices to Jaypee, its parent…

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Neeta Chemicals fined Rs 10L for misusing insolvency law – Times of India

The National Company Law Tribunal (NCLT) has penalised corporate defaulters for attempting to misuse the moratorium provisions under the insolvency law to escape auction of assets by lenders under the Sarfaesi (The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest) Act. Dismissing the insolvency petition filed by Neeta Chemicals, NCLT’s Hyderabad bench…

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