Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Resolution professional was entitled to cooperation, project records and access from a party operating under project agreements because, once CIRP commenced, the RP had a statutory duty to preserve and protect the corporate debtor's assets. The tribunal held that the matter was not a mere contractual dispute and directed disclosure of documents and information, but declined to stop construction because continuation was necessary in the interest of stakeholders, especially homebuyers. It also held that unregistered development documents did not create title in immovable property, so the project remained with the corporate debtor, while the earlier registered mortgage over the land, units and receivables continued and was not displaced by later development arrangements.
Resolution professional was entitled to cooperation, project records and access from a party operating under project agreements because, once CIRP commenced, the RP had a statutory duty to preserve and protect the corporate debtor's assets. The tribunal held that the matter was not a mere contractual dispute and directed disclosure of documents and information, but declined to stop construction because continuation was necessary in the interest of stakeholders, especially homebuyers. It also held that unregistered development documents did not create title in immovable property, so the project remained with the corporate debtor, while the earlier registered mortgage over the land, units and receivables continued and was not displaced by later development arrangements.
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