Exemption for examination-related services rejected where recipients were commercial entities; suppression sustained extended limitation and penalties...
Contractual and development rights under a hire-purchase development arrangement may form part of the corporate debtor's insolvency assets even where land title remains with a statutory authority. Such rights are limited to the debtor's existing contractual entitlement and cannot divest third-party ownership, compel land transfer, or bypass statutory requirements for compounding or regularising unauthorised construction. The notes distinguish pre-CIRP sealing and confiscation for unauthorised construction from actions barred by the moratorium, and state that physical possession does not by itself determine land rights. A resolution plan must identify surviving contractual rights, respect third-party title, and address the availability of required statutory approvals.
Contractual and development rights under a hire-purchase development arrangement may form part of the corporate debtor's insolvency assets even where land title remains with a statutory authority. Such rights are limited to the debtor's existing contractual entitlement and cannot divest third-party ownership, compel land transfer, or bypass statutory requirements for compounding or regularising unauthorised construction. The notes distinguish pre-CIRP sealing and confiscation for unauthorised construction from actions barred by the moratorium, and state that physical possession does not by itself determine land rights. A resolution plan must identify surviving contractual rights, respect third-party title, and address the availability of required statutory approvals.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4784
Join Channel
TaxTMI 
