Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: due date for vat payment :: TDS :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: form 3cd :: articles on VAT and GST in India :: VAT RATES :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: list of goods taxed at 4% :: cpt :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4%
« News Headlines »
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers
 Finance ministry warns tax officials of action against GST protest
 Big changes for small units under GST
 Parliament’s winter session to begin on November 16 to expedite GST rollout
 Income-tax (27th Amendment) Rules, 2016 - 92/2016
 Announcement - Clarifications in Respect of MEF 2016-17

Appellate Authority stays BIFR order on Metal Box
November, 21st 2006

The Appellate Authority for Industrial & Financial Reconstruction (AAIFR) has stayed until further orders all proceedings in BIFR case (No. 34/88) relating to Metal Box India Ltd.

The BIFR, in an order issued in September, had directed the MBIL management to fulfil the promises it had made earlier in the BIFR package and these included, among other things, the payment of outstanding dues to workers and employees, including statutory and other dues, submission of action plan for commencement of operations in closed units as per the BIFR package, submission of detailed list of assets already sold by the company, holding of meetings with banks and financial institutions and others like sales tax authority, excise department and Kolkata Port Trust for arriving at a settlement of the company's outstanding with them and submission of a status report on whether the promoter's contribution of Rs 30 crore, as promised in the BIFR package, had been made and if not what would be the time frame for infusion of funds.

BIFR had indicated that it might even consider the change of management of the company if it continued to violate the provisions of the final rehabilitation package issued as early as 2001.

As the situation stands now, the BIFR order cannot be enforced following the AAIFR order. The AAIFR is to hear the case again on December 12, it is learnt.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions