Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
The article explains that a resolution plan approved by the Committee of Creditors could not be rejected on subjective concerns about valuation, negotiation, claim treatment, voting pattern, disputed assets, or procedural points, because these fall within the CoC's commercial wisdom and are not open to judicial reappraisal absent a specific breach of Section 30(2). It further states that disputed properties may be included in the information memorandum where relevant to the corporate debtor's assets, that prior directions preventing a fresh reference back to the CoC had to be followed, and that promoters had no locus to seek withdrawal under Section 12A after rejection of their settlement proposals. It also treats later compliance with Rainbow Papers as implementable through an additional payment by the successful applicant.
The article explains that a resolution plan approved by the Committee of Creditors could not be rejected on subjective concerns about valuation, negotiation, claim treatment, voting pattern, disputed assets, or procedural points, because these fall within the CoC's commercial wisdom and are not open to judicial reappraisal absent a specific breach of Section 30(2). It further states that disputed properties may be included in the information memorandum where relevant to the corporate debtor's assets, that prior directions preventing a fresh reference back to the CoC had to be followed, and that promoters had no locus to seek withdrawal under Section 12A after rejection of their settlement proposals. It also treats later compliance with Rainbow Papers as implementable through an additional payment by the successful applicant.
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