IBBI Imposes ₹2 Lakh Penalty on Insolvency Professional for Non-Cooperation in Investigation, Flags Serious Irregularities in CIRP [Read Order]

The Insolvency and Bankruptcy Board of India (IBBI) has imposed a monetary penalty on insolvency professional after finding that he failed to cooperate with an investigation initiated in connection with a Corporate Insolvency Resolution Process (CIRP). The Disciplinary Committee observed that non-cooperation with the Investigating Authority prevented timely examination of allegations relating to valuation and…

NCLAT Directs Suspended Director to Contribute ₹8.71 Crore with 12% Interest to Corporate Debtor [Read Order]

https://www.taxscan.in/tags/national-company-law-tribunal The National Company Law Appellate Tribunal (NCLAT), Principal Bench at New Delhi, upheld the National Company Law Tribunal (NCLT) order directing contribution to the assets of a corporate debtor after finding that a share transaction with a related party was carried out with the intent to defraud creditors. The appeal arose from proceedings under…

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The Latest on 2026 Gambling Tax Law Changes

Posted on: January 1, 2026, 12:09h.  Last updated on: January 1, 2026, 12:09h. A new year means a new federal tax law Two gambling-related tax provisions were included in the “One Big Beautiful Bill” It’s a new year, and with 2026 comes new tax implications for lottery players, casino gamblers, and sports bettors. An aerial…