Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
Allowability of Salary Exemptions: Form 16 entries can substantiate HRA and other salary exemptions, and home loan interest is deductible for a self-o...
Capital gains exemption: payment for plot, architect fees and bona fide commencement of construction can satisfy utilisation requirement and secure re...
The IRP for corporate persons regulations were amended to tighten committee composition and insolvency cost control. Regulation 16 now requires the eighteen largest unrelated operational creditors to be considered, and if fewer than eighteen exist, all such unrelated operational creditors must be included. Where creditors other than scheduled banks or public financial institutions hold more than 66% voting share, the resolution professional must invite the five largest unrelated operational creditors, including the three largest statutory-dues authorities, as non-voting observers and record their observations. The committee must approve all insolvency resolution process costs, consider a Going Concern Assessment Report at the first meeting, and at each meeting review estimates and actuals. Resolution plans must now be recorded with reasons on viability, realisable value versus fair and liquidation values, and adequacy of market discovery.
The IRP for corporate persons regulations were amended to tighten committee composition and insolvency cost control. Regulation 16 now requires the eighteen largest unrelated operational creditors to be considered, and if fewer than eighteen exist, all such unrelated operational creditors must be included. Where creditors other than scheduled banks or public financial institutions hold more than 66% voting share, the resolution professional must invite the five largest unrelated operational creditors, including the three largest statutory-dues authorities, as non-voting observers and record their observations. The committee must approve all insolvency resolution process costs, consider a Going Concern Assessment Report at the first meeting, and at each meeting review estimates and actuals. Resolution plans must now be recorded with reasons on viability, realisable value versus fair and liquidation values, and adequacy of market discovery.
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