Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
Transfer of pending winding up proceedings under the statutory transfer scheme can be ordered even without a party application, because Section 434(1)(c) requires assessment of the stage of liquidation and whether it has become irreversible or irretrievable. On the facts, only possession of assets had been taken and the immovable properties remained unsold, so liquidation had not crossed that stage. The transfer order was therefore a valid exercise of jurisdiction and the challenge failed.
Transfer of pending winding up proceedings under the statutory transfer scheme can be ordered even without a party application, because Section 434(1)(c) requires assessment of the stage of liquidation and whether it has become irreversible or irretrievable. On the facts, only possession of assets had been taken and the immovable properties remained unsold, so liquidation had not crossed that stage. The transfer order was therefore a valid exercise of jurisdiction and the challenge failed.
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