Restriction of Input Tax Credit under Rule 86A applies only to fraudulently or ineligible availed credit; mere wrongful recipient availment is insuffi...
Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
The amendment replaces multiple prescribed forms in the pre-packaged insolvency resolution process framework with formats notified by the Board, and omits one clause in regulation 2. It also substitutes the previous form references across regulations 7, 14, 15, 16, 17, 19, 20, 43, 49 and 51, and removes the Schedule after regulation 51. Regulation 18 is rewritten to specify the information and documents a corporate applicant must file with a pre-packaged insolvency application, including director or partner declarations, the resolution initiation approval, proof of at least 51% approval from unrelated financial creditors, insolvency professional consents and reports, financial statements, and authorised representative submissions where applicable.
The amendment replaces multiple prescribed forms in the pre-packaged insolvency resolution process framework with formats notified by the Board, and omits one clause in regulation 2. It also substitutes the previous form references across regulations 7, 14, 15, 16, 17, 19, 20, 43, 49 and 51, and removes the Schedule after regulation 51. Regulation 18 is rewritten to specify the information and documents a corporate applicant must file with a pre-packaged insolvency application, including director or partner declarations, the resolution initiation approval, proof of at least 51% approval from unrelated financial creditors, insolvency professional consents and reports, financial statements, and authorised representative submissions where applicable.
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