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Insolvency And Bankruptcy Board Of India
The Insolvency and Bankruptcy Board of India (IBBI) is the regulator for overseeing insolvency ''proceedings'' and entities like Insolvency Professional Agencies (IPA), Insolvency Professionals (IP) and Information Utilities (IU) in India. It was established on 1 October 2016 and given statutory powers through the Insolvency and Bankruptcy Code, which was passed by Lok Sabha on 5 May 2016. It covers Individuals, Companies, Limited Liability Partnerships and Partnership firms. The new code will speed up the resolution process for stressed assets in the country. It attempts to simplify the process of insolvency and bankruptcy proceedings. It handles the cases using two tribunals like NCLT (National company law tribunal) and Debt recovery tribunal. Sh. Sudhaker Shukla and Sh. Jayanti Prasad are currently the Whole Time Members of IBBI. IBBI Governing Board IBBI will have 10 members, including representatives from the Ministries of Finance, Law and corporate affairs, and th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regulatory Agency
A regulatory agency (regulatory body, regulator) or independent agency (independent regulatory agency) is a government authority that is responsible for exercising autonomous dominion over some area of human activity in a licensing and regulating capacity. These are customarily set up to strengthen safety and standards, and/or to protect consumers in markets where there is a lack of effective competition. Examples of regulatory agencies that enforce standards include the Food and Drug Administration in the United States and the Medicines and Healthcare products Regulatory Agency in the United Kingdom; and, in the case of economic regulation, the Office of Gas and Electricity Markets and the Telecom Regulatory Authority in India. Legislative basis Regulatory agencies are generally a part of the executive branch of the government and have statutory authority to perform their functions with oversight from the legislative branch. Their actions are often open to legal review. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Finance (India)
The Ministry of Finance (IAST: ''Vitta Maṃtrālaya'') is a ministry within the Government of India concerned with the economy of India, serving as the Treasury of India. In particular, it concerns itself with taxation, financial legislation, financial institutions, capital markets, centre and state finances, and the Union Budget. The Ministry of Finance is the apex controlling authority of ''four'' central civil services namely Indian Revenue Service, Indian Audit and Accounts Service, Indian Economic Service and Indian Civil Accounts Service. It is also the apex controlling authority of one of the central commerce services namely Indian Cost and Management Accounts Service History R. K. Shanmukham Chetty was the first Finance Minister of independent India. He presented the first budget of independent India on 26 November 1947. Department of Economic Affairs The Department of Economic Affairs is the nodal agency of the Union Government to formulate and monitor country's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic History Of India (1947–present)
India was the one of the largest economies in the world, for about two and a half millennia starting around the end of 1st millennium BC and ending around the beginning of British rule in India. Around 500 BC, the Mahajanapadas minted punch-marked silver coins. The period was marked by intensive trade activity and urban development. By 300 BC, the Maurya Empire had united most of the Indian subcontinent including Tamilakam, which was ruled by Three Crowned Kings. The resulting political unity and military security allowed for a common economic system and enhanced trade and commerce, with increased agricultural productivity. The Maurya Empire was followed by classical and early medieval kingdoms, including the Cholas, Pandyas, Cheras, Guptas, Western Gangas, Harsha, Palas, Rashtrakutas and Hoysalas. The Indian subcontinent had the largest economy of any region in the world for most of the interval between the 1st and 18th centuries. Maddison, Angus (2003): Development Centr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Agencies Of India
A government is the system or group of people governing an organized community, generally a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is a means by which organizational policies are enforced, as well as a mechanism for determining policy. In many countries, the government has a kind of constitution, a statement of its governing principles and philosophy. While all types of organizations have governance, the term ''government'' is often used more specifically to refer to the approximately 200 independent national governments and subsidiary organizations. The major types of political systems in the modern era are democracies, monarchies, and authoritarian and totalitarian regimes. Historically prevalent forms of government include monarchy, aristocracy, timocracy, oligarchy, democracy, theocracy, and tyranny. These forms are not always mutually exclusive, and mixed governme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Agencies Established In 2016
A government is the system or group of people governing an organized community, generally a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is a means by which organizational policies are enforced, as well as a mechanism for determining policy. In many countries, the government has a kind of constitution, a statement of its governing principles and philosophy. While all types of organizations have governance, the term ''government'' is often used more specifically to refer to the approximately 200 independent national governments and subsidiary organizations. The major types of political systems in the modern era are democracies, monarchies, and authoritarian and totalitarian regimes. Historically prevalent forms of government include monarchy, aristocracy, timocracy, oligarchy, democracy, theocracy, and tyranny. These forms are not always mutually exclusive, and mixed governme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Regulatory Authorities Of India
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability assessment ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Organisations Based In Delhi
An organization or organisation (Commonwealth English; see spelling differences), is an entity—such as a company, an institution, or an association—comprising one or more people and having a particular purpose. The word is derived from the Greek word ''organon'', which means tool or instrument, musical instrument, and organ. Types There are a variety of legal types of organizations, including corporations, governments, non-governmental organizations, political organizations, international organizations, armed forces, charities, not-for-profit corporations, partnerships, cooperatives, and educational institutions, etc. A hybrid organization is a body that operates in both the public sector and the private sector simultaneously, fulfilling public duties and developing commercial market activities. A voluntary association is an organization consisting of volunteers. Such organizations may be able to operate without legal formalities, depending on jurisdiction, includi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regulatory Agencies Of India
Regulation is the management of complex systems according to a set of rules and trends. In systems theory, these types of rules exist in various fields of biology and society, but the term has slightly different meanings according to context. For example: * in biology, gene regulation and metabolic regulation allow living organisms to adapt to their environment and maintain homeostasis; * in government, typically regulation means stipulations of the delegated legislation which is drafted by subject-matter experts to enforce primary legislation; * in business, industry self-regulation occurs through self-regulatory organizations and trade associations which allow industries to set and enforce rules with less government involvement; and, * in psychology, self-regulation theory is the study of how individuals regulate their thoughts and behaviors to reach goals. Social Regulation in the social, political, psychological, and economic domains can take many forms: legal restrictions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Executive Branch Of The Government Of India
Executive ( exe., exec., execu.) may refer to: Role or title * Executive, a senior management role in an organization ** Chief executive officer (CEO), one of the highest-ranking corporate officers (executives) or administrators ** Executive director, job title of the chief executive in many non-profit, government and international organizations; also a description contrasting with non-executive director ** Executive officer, a high-ranking member of a corporation body, government or military ** Business executive, a person responsible for running an organization ** Music executive or record executive, person within a record label who works in senior management ** Studio executive, employee of a film studio ** Executive producer, a person who oversees the production of an entertainment product * Account executive, a job title given by a number of marketing agencies (usually to trainee staff who report to account managers) * Project executive, a role with the overall responsibili ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reserve Bank Of India
The Reserve Bank of India, chiefly known as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance, Government of India. It is responsible for the control, issue and maintaining supply of the Indian rupee. It also manages the country's main payment systems and works to promote its economic development. Bharatiya Reserve Bank Note Mudran (BRBNM) is a specialised division of RBI through which it prints and mints Indian currency notes (INR) in two of its currency printing presses located in Nashik (Western India) and Dewas (Central India). RBI established the National Payments Corporation of India as one of its specialised division to regulate the payment and settlement systems in India. Deposit Insurance and Credit Guarantee Corporation was established by RBI as one of its specialised division for the purpose of providing insurance of deposits and guaranteeing of credit facilit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Company Law Tribunal
The National Company Law Tribunal is a quasi-judicial body in India that adjudicates issues relating to Indian companies. The tribunal was established under the Companies Act 2013 and was constituted on 1 June 2016 by the government of India and is based on the recommendation of the V. Balakrishna Eradi committee on law relating to the insolvency and the winding up of companies. All proceedings under the Companies Act, including proceedings relating to arbitration, compromise, arrangements, reconstructions and the winding up of companies shall be disposed off by the National Company Law Tribunal. The NCLT bench is chaired by a Judicial member who is supposed to be a retired or a serving High Court Judge and a Technical member who must be from the Indian Corporate Law Service, ICLS Cadre. The National Company Law Tribunal is the adjudicating authority for the insolvency resolution process of companies and limited liability partnerships under the Insolvency and Bankruptcy Code ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of India
The Government of India (ISO: ; often abbreviated as GoI), known as the Union Government or Central Government but often simply as the Centre, is the national government of the Republic of India, a federal democracy located in South Asia, consisting of 28 union states and eight union territories. Under the Constitution, there are three primary branches of government: the legislative, the executive and the judiciary, whose powers are vested in a bicameral Parliament, President, aided by the Council of Ministers, and the Supreme Court respectively. Through judicial evolution, the Parliament has lost its sovereignty as its amendments to the Constitution are subject to judicial intervention. Judicial appointments in India are unique in that the executive or legislature have negligible say. Etymology and history The Government of India Act 1833, passed by the British parliament, is the first such act of law with the epithet "Government of India". Basic structure The gover ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
