ECONOMIC LAW SECTION LIST Flashcards
1
Q
“For Extension of Resolution Process Period by 90 days
(180 + 90)”
A
12(2)
2
Q
For Extension of Fast Track Resolution Period by 45 days (90 + 45)
A
56(2)
3
Q
Approval where no specific % is prescribed
A
21(8)
4
Q
Appointment of RP
A
22(2)
5
Q
Replacement of RP
A
27(2)
6
Q
Approval for Certain action specified u/s 28(1)
A
28(3)
7
Q
Approval of RESOLUTION PLAN by COC
A
30(4)
8
Q
Withdrawal of application u/s 7, 9 & 10
A
12A
9
Q
Application
A
2
10
Q
Persons who may initiate corporate insolvency resolution process
A
6
11
Q
Initiation of corporate insolvency resolution process by financial creditor
A
7
12
Q
Insolvency resolution by operational creditor
A
8
13
Q
Application for initiation of corporate insolvency resolution process by operational creditor
A
9
14
Q
Initiation of corporate insolvency resolution process by corporate applicant
A
10
15
Q
Persons not entitled to make application
A
11
16
Q
Time-limit for completion of insolvency resolution process
A
12
17
Q
Withdrawal of application admitted under section 7, 9, or 10
A
12A
18
Q
Declaration of moratorium and public announcement
A
13
19
Q
Moratorium
A
14
20
Q
Public Announcement of Corporate Insolvency Resolution Process
A
15
21
Q
Appointment, tenure and Power of interim resolution professional
A
16
22
Q
Powers of Interim Resolution Professional
A
17
23
Q
Committee of creditors
A
21
24
Q
Appointment and functions of resolution professional
A
22
25
Functions of Resolution professional
23
26
Meeting of committee of creditors
24
27
Rights and duties of authorised representative of financial creditors
25A
28
Replacement of resolution professional by committee of creditors
27
29
Approval of committee of creditors for certain actions of resolution professional, during the corporate insolvency resolution process
28
30
Preparation of information memorandum
29
31
Persons not eligible to be resolution applicant
29A
32
Submission of Resolution plan
30
33
Approval of Resolution plan
31
34
Initiation of liquidation
33
35
Initiation of liquidation
34
36
Powers and duties of liquidator
35
37
Liquidation estate
36
38
Powers of liquidator to access information
37
39
Consolidation of claims
38
40
Verification of claims
39
41
Admission or rejection of claims
40
42
Determination of valuation of claims
41
43
Appeal against the decision of liquidator
42
44
Avoidance of undervalued transactions
45
45
Secured creditor in liquidation proceedings
52
46
Distribution of assets
53
47
Dissolution of corporate debtor
54
48
Fast Track Resolution for Corporate Persons
55 TO 57
49
Voluntary Liquidation of Corporate Persons
59
50
Capital a/c transaction
2(e)
51
Current a/c transaction
2(j)
52
person
2(u)
53
Person Resident in India
2(w)
54
PROI
3(a)
55
Restriction on dealings
3(a)
56
Powers of RBI and penalty (10000 + 2000 per day)
11
57
Inspection by RBI
12
58
Drawal of foreign exchange is prohibited
Rule 3 r.w. seh 1
59
Prior approval of CR for drawal of foreign ex.
Rule 4 r.w. seh 2
60
Prior approval of RBI if in excess of 250000
Rule 5 r.w. seh 3
61
Capital a/c Transaction
6
62
repatriation and realisation of Forex i.e. export proceeds
8
63
exemption from repatriation
9
64
penalty
13
65
failure to pay penalty within 90 days
14
66
power to recover arrears of penalty as per seh 2 of IT act,1961
14A
67
compounding of contravention (except sec 2 offences)
15
68
appeal to special director (appeals) in 45 days + extension
17
69
Registration of ARC
3
70
Cancellation of certificate of registration ( appeal to CG if aggrevied in 30 days )
4
71
measures of ARC
9
72
functions of ARC
10
73
resolution of disputes
11
74
enforcement of security interest
13
75
notice to borrower to discharge liabilities in 60 days
13(2)
76
measures for secure creditor in case of default by borrower
13(4)
77
objection of the borrower
13(3A)
78
Chief Metropolitan Magistrate to assist secured creditor
14
79
takeover of Mgt.
15
80
no CFLO to directors
16
81
right to receive money otherwise remains
16(2)
82
appeal to appellate trib. within 30 days
18
83
right to lodeg caveat
18C
84
punishment for ML
4
85
obligations on reporting entity
12(1)
86
power to directors to impose fine
13
87
attachment of property
5
88
offences cognixable
45
89
agreement with foreign countries
56
90
letter of request to a contracting state
57
91
assistance to contracting state in certain cases
58
92
vexatious search penalty
62
93
false information penalty
63
94
recovery of penalty if not paid in 6 months
69
95
foreign contribution
2(1)(h)
96
foreign hospitality
2(1)(i)
97
foreign source
2(1)(j)
98
prohibiton in certain cases
3
99
no prohibition by person covered u/s 3
4
100
restriction on acceptance of foreign hospitality
6
101
prohibition to t/f foreign contribution to other person
7
102
FC not to be used for speculative business and 50% on admin expenses
8
103
certificate of registration or prior approval
12
104
suspension / cancellation of registration
13/14
105
renewal of certificate
16
106
FC three scheduled bank
17
107
intimation
18
108
arbitration agreement
2(1)(b)
109
arbitral award
2(1)(c)
110
international commercial arbitration
2(1)(f)
111
arbitration agreement
7
112
no. of conciliators
63
113
appointment of conciliators
64
114
non - applicability of act
28
115
procedure of corporatisation and demutualisation
4B
116
applicarion to CG to be recognised SE
3
117
grant of recognition
4
118
withdrawal of recognition if it is in public interest
5(1)
119
withdrawal of recognition for failure to corporatise
5(2)
120
every RSE to furnish periodical report to SEBI (RULE 17)
7
121
powers to SEBI to issue directions
12A
122
Supersede governing body
11
123
suspend business of RSE
12
124
RSE to make bye-laws
9
125
RSE to make rules restricting voting rights etc.
7A
126
SEBI to make /amend the bye laws
10
127
CG/SEBI to make or amend rules of SE
8
128
Members not to act as principals
15
129
additional trading floor
13A
130
appeal to SAT against refusal to list securities within 15d+1m
22A
131
appeal to SC within 60+60 days
22F
132
delisting of securities (rule 21)
21A
133
Clearing corporations
8A
134
Title to dividends
27
135
income from CIS
27A
136
Penalty for failure to furnish information or maintain books or records
23A
137
Factors to be taken while computing penalty
23J
138
Compounding of offence b4 or after institution of proceeding
23N
139
constituition of SEBI
4
140
Chairman and whole time member max tenure 5 years
5
141
functions / powers of SEBI
11
142
Powers where an investigation or inquiry is ordered
11(4)
143
Prohibition /regulation of issue of prospectus
11A
144
power to order investigation
11C
145
Cease and desist proceedings
11D
146
Prohibition of manipulative and deceptive devices
12A
147
Penalty for failure to furnish informationn ,return penalty for
15A
148
Failure to enter into agreement with client
15B
149
Failure to redress investors' grievances
15C
150
Certain defaults by mutual funds
15D
151
Default in case to stock broker
15F
152
Insider trading
15G
153
Fraudulent and unfair trade practices
15HA
154
Factors to be taken while determining penalty
15J
155
Qualifications for appointment as presiding officer or member of SAT
15M
156
Tenure of office of presiding officer
15N
157
Appeal to SAT within 45 days + extension as SAT may deem fit
15T
158
Appeal to SC within 60+60 days
15Z
159
Compounding either b4 or after instituition of any prosecution
24A
160
Recovery of amount
28A
