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NakulGupta1985 - Freelance Writer with 10 Reviews
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Spark Plug – Know About Insolvency & Bankruptcy Bill Code 2015

Dear Aspirants, In continuation with our 'Spark Plug' series, today we are presenting a detail article on 'Insolvency & Bankruptcy Bill Code 2015'. Must read this article to know the importance of this bill and also get the answer of the questions like - How this Bill will help the Entities? When and why this bill is proposed? This article will help in your preparation for descriptive test for upcoming exams like SBI PO, UIIC & IBPS PO 2016. What is insolvency and bankruptcy? Insolvency, the word itself describes as a - state of confusion or which is unresolved. It is the situation in which an individual or an organization is unable to pay their debts. It shows the financial state of the organization. So how can we understand that when the individual or organization is unable to repay? (i) It can be identify from the balance sheet of the organization, like by checking its year by year sales increase or decrease, repayment tracks of the banks (loans), liabilities exceed the total assets. (ii) If it is irregular, sales is not increasing and the company is in losses for more than 2 years then the firm is consider to be in a state of Insolvency. (iii) On the other hand, Bankruptcy is when an individual or a organization is unable to pay the debts, then the court declare them as bankrupt. It is a legal status. Aim- The aim of the Bill is to create a Insolvency Resolution Process (IRP) for business entity, either by survival mechanism or by their speedy Liquidation. When and why this bill is proposed? The Insolvency and Bankruptcy Bill is proposed on Dec 21, 2015 by Finance Minister, Shri Arun Jaitley in Lok Sabha. According to the report published by World Bank Group, “Ease of doing Business”, 2016 India is in 130th position out of 189 countries, while India was in 134th position in 2015, only 4 positions up we came in 1 year, hence, this bill is proposed by understanding the importance of Economic Growth through businesses in India. The Bill is based on the recommendations of the Joint Parliamentary Committee on the insolvency and Bankruptcy Code, 2015. The government nodded by accepting the Joint Committee report “in toto” (in toto means completely, wholly, entirely) which will help the firm who is in danger to shut their businesses. It was passed on May 5th 2016. Let’s understand this by taking an example of a firm who is doing business in India since 10 years. For the expansion and to increase its business it recruited employees to the firm to manage day to day activities and various departments of the firm. To expand his business in other state or allover India, the firm took loan from Bank and the bank sanctioned loan on the basis of financials of the firm.

About SEBI

सेबी क्या है? • सेबी भारत में शेयर बाजार के लिए नियन्त्रक है I मुख्य कार्यालय मुंबई में स्थित है I • वास्तव में 1988 में भारत सरकार द्वारा स्थापित किया गया, इसने 1992 में भारतीय संसद द्वारा पारित किये गए सेबी अधिनियम 1992 के साथ वैधानिक पत्र प्राप्त किया I यू.के. सिन्हा सेबी के वर्तमान चेयरमैन हैं । नोट: वायदा बाजार आयोग (एफ.एम.सी) भारत में कमोडिटी फ्यूचर बाजार का मुख्य नियन्त्रक है जो 28 सितम्बर 2015 को भारतीय प्रतिभूति और विनिमय बोर्ड (सेबी) के साथ मिला दिया गया I सेंसेक्स और निफ़्टी क्या है? सेंसेक्स “संवेदी सूचकांक” शब्दों के लिए छोटा शब्द है और बॉम्बे (मुम्बई) स्टॉक एक्सचेंज (बी.एस.ई) के साथ जुदा हुआ है I सेंसेक्स पहली बार 1-1-1986 को गठित किया गया था और बी.एस.ई के 30 सबसे अधिक कारोबारी शेयरों का बाजार पूंजीकरण इस्तेमाल किया गया I एन.एस.ई- इस विचार से एन.एस.ई के पास एन.एस.ई के 50 सबसे अधिक कारोबारी स्टॉक हैं I नोट: • सेंसेक्स बी.एस.ई की सूची है और निफ़्टी एन.एस.ई की सूची है I • दोनों रोज़ाना व्यापार के निशान को दिखाएगी I सेंसेक्स और निफ़्टी दोनों एक “सूची” हैं I • एक सूची मूल रूप से एक सूचक है यह या तो सबसे अधिक स्टॉक ऊपर चढ़े हैं या सबसे अधिक स्टॉक नीचे आ गए हैं को इंगित करता है I सी.आर.एम क्या है? ग्राहक सम्बन्ध प्रबंधन (सी.आर.एम) समझने, आशा और ग्राहक की जरूरतों को संभालना, सम्पर्क और सम्बन्ध राजस्व और मार्जिन विकास और परिचालन क्षमताओं के माध्यम से बढ़े हुए लाभ में परिणाम होने की क्षमता को दर्शाता है I सूचना का अधिकार अधिनियम क्या है? सूचना का अधिकार अधिनियम भारतीय संसद द्वारा अधिनियमित एक कानून है केन्द्रीय सरकार और राज्य सरकार के रिकॉर्ड को बढ़ाने के लिए भारतीय नागरिकों को दिया जा रहा है I यह अधिनियम भारत के सभी राज्यों और संघ राज्य क्षेत्रों पर लागू होता है, जम्मू-कश्मीर राज्य को छोड़कर - जो एक राज्य स्तरीय कानून के तहत आता है I यह कानून 15 जून 2005 को संसद द्वारा पारित किया दिया गया और 13 अक्टूबर 2005 को अस्तित्व में पूरी तरह से आया I

Law of contract

Block –I : Unit 1: The Law of Contract 1.1 OBJECTIVES After going through this unit, students will be able to: • state the fundamental concepts of contract and agreement; • explain the void and voidable contracts; • explain the legality of object and consideration; • discuss the meaning of performance and discharge of contracts; • Understand the concept of indemnity and guarantee. 1.2 INTRODUCTION Most people in our society are involved in contractual agreements of some kind. In most, if not all, aspects of law contracts can be found. Contracts are involved in family law, corporate law, employment law, litigation and real estate. 1.3 AGREEMENT AND CONTRACT: A contract is an agreement reached after sufficient consideration to do, or refrain from doing, some legal action. A contract is considered valid when two or more parties with capacity make an agreement involving valid consideration to do or to refrain from doing some lawful act. If these elements exist, the contract is valid. If one or more or these necessary elements is missing, the contract is void or voidable. In other words, it is not considered to be a contract and therefore cannot be enforced. A void contract is no contract at all. It is not binding and no action can be maintained if it is breached. A disaffirmance is not necessary to avoid a void contract. If a contract can be rejected by one of the parties on legal grounds, it is called a voidable contract. A voidable contract is valid and binding unless the entitled party (the party who has legal grounds to reject the contract) voids it. A defect exists. The defect may be cured by ratification of the entitled party. The basic components of a contract are the offer, the consideration and the acceptance. The following are six elements that are to help to determine whether or not the basic components are present and meet legal criteria for a valid contract: — • All parties must have capacity to enter the contract. • An offer must be made. • Consideration must be exchanged. • The parties must be in mutual agreement. • The contract's object and purpose must be legal. • The form of the contract must meet the legal requirements.

Grownet Policies

Refund policy : 1) money will be refunded within 10 days from the date of joining. 2) total amount will be refunded directly in the bank account within 10 working days. 3)if anyone want to start the business again he/she have to start from the scratch. 4) once the account will be deactivated none of the money will be given to the user. 5) The earning of the daily task will be deducted from the total amount and rest of the amount will be deposited in the bank account directly. Renewal policy : 1) user will have to renew their account before 15 days of the expiration date. 2) terms and condition will be same after renewal as per the purchase of new ID. 3) after renewal Id will be treated as same as like a new ID. 4)once the ID will be expired so he/she will again have to start from the scratch all the position,all the BV is gained by him/her will be cancelled.

Client Reviews

Amit Vats

May 04, 2017 00:24

Nice Job Done!
Google Review : Write and Publish Review
Kushagra Srivastava

Apr 12, 2017 02:01

Not up to expectations at all.
Need articles

Apr 06, 2017 03:17

Just translated from any software. Sentence is not at all alligned to the theme. Not at all satisfied.if you have better knowledge about the language then only you carry on or else please back of as i have a urgent requirement.
Translation from English to Marathi

Mar 20, 2017 04:36

it was a small work; I am not happy with the answer , it's too generic
wa0005 must read order details

Feb 18, 2017 07:21

Perfect job as usual
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Feb 14, 2017 21:50

good as always
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Feb 13, 2017 22:07

Perfect Job as usual ! Fast and excellent !!!!!!
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Feb 06, 2017 11:30

I have hired many writers but so far you are the best writer ever, Written like native English Speaker . This platform don't have bonus option or you will get some bonus from me for sure. Thank you so much A++++++ Anyway you did another great job with this project by changing you DP. :)
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