Liquidator appointment under Section 34 requires consideration of creditor recommendations, valid professional authorisation, and preservation of vali...
Income-tax exemption for specified regulatory fees and government grants applies subject to non-commercial activity and continuing compliance conditio...
Digital accessibility audit and remediation deadlines extended, while all other disability-compliance obligations for regulated entities remain unchan...
The amended exclusion from the interim moratorium applies to...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration.
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
The amended exclusion from the interim moratorium applies to insolvency applications against personal guarantors that were filed before commencement and remained pending. The phrase "where an application is filed" covers existing pending applications; this is characterised as retroactive operation on a continuing status, rather than retrospective operation affecting vested rights. Accordingly, the interim moratorium ceased from the amendment's effective date and did not bar the petition. Pending arbitration, limited equitable protection may include asset disclosure and restraints on alienation or dissipation, even where an insolvency professional may access similar information. Such relief remains subject to commencement of arbitration and further arbitral directions.
The amended exclusion from the interim moratorium applies to insolvency applications against personal guarantors that were filed before commencement and remained pending. The phrase "where an application is filed" covers existing pending applications; this is characterised as retroactive operation on a continuing status, rather than retrospective operation affecting vested rights. Accordingly, the interim moratorium ceased from the amendment's effective date and did not bar the petition. Pending arbitration, limited equitable protection may include asset disclosure and restraints on alienation or dissipation, even where an insolvency professional may access similar information. Such relief remains subject to commencement of arbitration and further arbitral directions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4782
Join Channel
TaxTMI 
