Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Continuation of CIRP after a genuine repayment offer may be stopped where the sole creditor has been fully paid and no other claims exist. The Code is aimed at revival of the corporate debtor, not compulsory divestiture or settling personal scores. On these facts, refusal by the sole-member CoC to accept settlement without any justifiable reason was treated as arbitrary and as misuse of the insolvency process. Once malicious intent or abuse became apparent during the proceedings, the Tribunal could terminate the CIRP itself rather than wait for separate penal consequences.
Continuation of CIRP after a genuine repayment offer may be stopped where the sole creditor has been fully paid and no other claims exist. The Code is aimed at revival of the corporate debtor, not compulsory divestiture or settling personal scores. On these facts, refusal by the sole-member CoC to accept settlement without any justifiable reason was treated as arbitrary and as misuse of the insolvency process. Once malicious intent or abuse became apparent during the proceedings, the Tribunal could terminate the CIRP itself rather than wait for separate penal consequences.
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