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MSME PROPRITERIARY AND PARTNERSHIPS ARE STILL NEGLECTED IN NCLT REGIME: Dr.Paanse

National Company Law Tribunal (NCLT) established under the Insolvency and Bankruptcy Code 2016 (IBC), which was initiated by the Narendra Modi Government with the main object of “Doing business with ease” has hardly served MSME sector, as the proprietary concerns and partnership firms are still outside the purview of the NCLT.

In fact, the NCLT was set up by the Union government under IBC to help the NPA accounts to resolve their problems and restructure the business while maintaining the employment. However, presently it is useful only to the corporates. MSME sector which is mainly in the form of proprietary and partnership forms are being neglected, alleged Dr. Visswas Paanse, Ex-banker and NPA activist.

Talking to reporters Dr. Visswas said the small and medium entrepreneurs other than corporates who are NPA’s were not getting any opportunity to revive their business under The Board for Industrial and Financial Reconstruction (BIFR) and now under IBC as well.

Even at present the corporates which are applying to NCLT, either under section 7, 9, or 10 are not getting dates for 3-4 months. According to law they should get an opportunity to be heard within 15 days. The corporates are thus deprived of taking advantage of this new law and banks are getting undue upperhand for destroying the existing businesses. In fact, the IBC is meant for revival of business but such delay is helping banks unduly, use this time for coercive recoveries.

The Process of resolution under IBC has to be completed within 6 months, from the date of admission which may be extended to another 3 months but presently even this 9 months are not enough and are always deferred for more than 9 months. Now it is interpreted as the time limits under IBC are directory and not mandatory. This is not with the spirit of IBC, says Dr. Visswas

As of now, NCLT is flooded with insolvency cases of big corporate houses including Essar Steels, Bhushan Steel and Bhushan Power and Uttam Galva etc and the existing infrastructures of NCLT are being overburdened. The NCLT also gives the priority to big and known corporates as big debt are involved in it and the small and medium entrepreneurs are being neglected without any reasons.

The recent judgment of Supreme Court whereby personal properties mortgaged by the promoters to obtain the corporate loans have been kept outside the provisions of IBC is against the spirit of IBC. When the corporate loans are based on these collateral securities why should they be kept outside the purview of IBC, Government should take note of it and make the suitable amendment in the Code, demands Dr. Visswas. This is also detrimental for arriving at practical resolution of borrowers, as the physical possession of the personal mortgaged properties are taken by the bank and used exclusively for their own recovery purpose.

About the appointment of the Resolution Professional (RP), Dr. Visswas argues that the banks and financial institutions appoints only their selected Panel members as RP and remove the IRPs appointed under section 7 or 9 by other creditors or by the borrowers under section 10. It shows the banks have no trust on the RPs or IRPs which are appointed by others. “Isn’t it against the basic framework of IBC and doubting the integrity of RP or IRP as professionals? “- questions Dr. Visswas.

The provisions should be made unless there is a prima facie evidence that an IRP is behaving partially he should not be removed. Any empanelment of RPs or IRPs by the banks or institutions either officially or unofficially should be banned as they are supposed to be impartial – suggests Dr. Visswas.

——-Abhishek Dubey(PRO)

Bhojpuri film “Ek Yogi” shooting has started in Jharkhand

The shooting of Bhojpuri movie “EK Yogi” has started in Jharkhand. The makers has completed its first schedule of movie and shared photos on there social media account.

 

The lead actor Subodh Mahto First look in Ek Yogi has made some serious waves online. Just hours from its release, it trended online and social media. The film directed by Amar Dubeyand DOP Ajay Vishwkarma.

——-Abhishek Dubey(PRO)

Dassehra Sad Song viral on Social Media: Niel Nitin Mukesh Investigating Her Wife Tina Desai Murder Case

Love has its own miracles every day, such as weakening the strong, and strengthening the weak, also turning everything topsy-turvy. One such incident is seen in Bollywood’s upcoming movie ‘Dassehra’. After the release of the film’s trailer, everyone thought the movie is about actor Neil Nitin Mukesh investigating the suicide case of three girls found dead in a hostel. But after the release of the song ‘Aeri Mayi Re’ sung of Ustaad Rashid Khan, one can see the Actor investigating his wife’s murder too, played by actress Tina Desai who is in the role of the Superintendent of Police.

Romantic songs in Bollywood are now getting a classical twist with ‘Aeri Mayi Re’ from the movie ‘Dassehra’ . ‘Aeri Mayi Re’ just seeps through the senses and touches the heart every time you listen to it. Real music is a combination of resonance of lyrics and sound. ‘Aeri Mayi Re’ perfectly portrays this combination. Actors Neil Nitin Mukesh and Tina Desai look beautiful in their characters. Their chemistry as a love couple makes you fall in love with them.

Actor Neil Nitin Mukesh is seen heart broken and distressed upon the death of his love interest played by Actress Tina Desai. Their love and bonding looks unbelievably real. ‘Aeri Mayi Re’ sure hits the right romance chords in every listener’s heart and soul.

———-Abhishek Dubey (PRO)

Shivam Suratwala’s “Tik Tik” Music Video First Look Out

Here’s the good news for Shivam Suratwala fans who is back with his new song after the superhit song ‘Hu tu tu tu’ which was produced by SS Group Films and Released by T- Series. His next song “Tik Tik” is all set to hit the YouTube soon. Recently the makers has released the first look poster of Music Album. Featuring Young and Dashing Singer Shivam Suratwala with Gorgeous Actress Priyanka Khera. After the tremendous success of his first video song on YouTube, he decided to give his fans a new blockbuster tune to play in the loop for which the sensational pop singer Shivam Suratwala has collaborated with Mauritius tourism for the shooting of the song. The pop song will be released very soon on the Internet. It is said that this song will also be youth-oriented as his previous one ‘Hu tu tu tu’ was.

Suratwala’s pop song is conceptualized by Lala Bhai Suratwala. Lala Bhai Suratwala is also going to don the cap of the Director of the song. Shivam reveals while sharing his excitement with his fans that the song which is shot in Mauritius will be a visual treat for them and will be a chartbuster instantly on releasing on the digital platform.

————Pigeon Media(Abhishek Dubey)

Dassehra Sad Song Out: Niel Nitin Mukesh Investigating Her Wife Tina Desai Murder Case

Love has its own miracles every day, such as weakening the strong, and strengthening the weak, also turning everything topsy-turvy. One such incident is seen in Bollywood’s upcoming movie ‘Dassehra’. After the release of the film’s trailer, everyone thought the movie is about actor Neil Nitin Mukesh investigating the suicide case of three girls found dead in a hostel. But after the release of the song ‘Aeri Mayi Re’ sung of Ustaad Rashid Khan, one can see the Actor investigating his wife’s murder too, played by actress Tina Desai who is in the role of the Superintendent of Police.

Romantic songs in Bollywood are now getting a classical twist with ‘Aeri Mayi Re’ from the movie ‘Dassehra’ . ‘Aeri Mayi Re’ just seeps through the senses and touches the heart every time you listen to it. Real music is a combination of resonance of lyrics and sound. ‘Aeri Mayi Re’ perfectly portrays this combination. Actors Neil Nitin Mukesh and Tina Desai look beautiful in their characters. Their chemistry as a love couple makes you fall in love with them.

Actor Neil Nitin Mukesh is seen heart broken and distressed upon the death of his love interest played by Actress Tina Desai. Their love and bonding looks unbelievably real. ‘Aeri Mayi Re’ sure hits the right romance chords in every listener’s heart and soul.

Presenting second Sad song from the film @Dassehra1 @NeilNMukesh @tinadesai07 @Aparna50507263 @thrillerbadshah singer @ustaadrashidkhan

————Pigeon Media(Abhishek Dubey)

Watch Bahubali Fame Scarlett Wilson in the raunchy song of the Year – Maee Re – in Dassehra

The Neil Nitin Mukesh – Tina Desai -starrer Dassehra is being touted as the Wanted of this year. If the trailer is anything to go by, it just might be Neil’s solo-hero blockbuster hit after a long time. “Maee Re” is the first item number of Dassehra. The song is all set for a hit the temperatures soaring high in this winter, the makers of movie have added skimpily clad Bahubali Fame Scarlett Wilson to the video.

Since the film is christened “Dassehra”, it would be unfair to not have a fitting song that justifies the title. “Maee Re” does that and it is said to be the ‘rowdiest song of the year’. Custom-made for the voice of Rekha Bhardwaj And Madhushree, your frown at the lyrics quickly metamorphoses into some foot-tapping.

Sung by Rekha Bhardwaj And Madhushree, the song would qualify for the Razzies. At the same time, credit must be given where it is due – the song is perfect to rile up all the front-benchers. Directed by Manish Vatsal , Produced by Aparana S Hosing and Creative Head of the Movie Saurabh Chadhary, the music has been composed by Vijay Verma. The lyrics of the song have been penned by Manthan.

Social Media Tweets:

Presenting the first video song #MaeeRe from the movie #Dassehra, under Rush Production @NeilNMukesh @tinadesai07 @rekha_bhardwaj @MadhushreeMusic @Aparna50507263 @thrillerbadshah @manish_vatsalya

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