Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Section 34 treats continuation of the resolution professional as...
Liquidator appointment under Section 34 requires consideration of creditor recommendations, valid professional authorisation, and preservation of valid prior liquidation steps.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Section 34 treats continuation of the resolution professional as liquidator as the default position, while replacement is limited to specified statutory grounds. A Committee of Creditors' unanimous recommendation for a liquidator is material and requires consideration; a general bar on appointing an erstwhile interim or resolution professional is not supported where the underlying facts do not apply. Appointment also requires verification of a valid and subsisting Authorisation for Assignment before charge is assumed. Routine liquidation steps taken by an incumbent may remain effective, while the outgoing liquidator may receive costs and fees for work genuinely performed.
Section 34 treats continuation of the resolution professional as liquidator as the default position, while replacement is limited to specified statutory grounds. A Committee of Creditors' unanimous recommendation for a liquidator is material and requires consideration; a general bar on appointing an erstwhile interim or resolution professional is not supported where the underlying facts do not apply. Appointment also requires verification of a valid and subsisting Authorisation for Assignment before charge is assumed. Routine liquidation steps taken by an incumbent may remain effective, while the outgoing liquidator may receive costs and fees for work genuinely performed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
