Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
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An Interim Resolution Professional must receive, verify and collate claims and maintain an updated creditor list for constituting the Committee of Creditors. Partial admission of secured creditors' claims after verification, and their reduced voting share following admission of homebuyers' claims, do not by themselves establish lack of integrity or justify removal. Decisions to retain or replace the professional ordinarily remain within the Committee of Creditors' commercial wisdom, with tribunal intervention limited to exceptional circumstances. Allegations of bias, misconduct, contractual interference and process deadlock did not establish such circumstances, particularly where the relevant contract resolution was stayed and class creditors supported the professional. The applications for replacement and restraint on further committee meetings were rejected.
An Interim Resolution Professional must receive, verify and collate claims and maintain an updated creditor list for constituting the Committee of Creditors. Partial admission of secured creditors' claims after verification, and their reduced voting share following admission of homebuyers' claims, do not by themselves establish lack of integrity or justify removal. Decisions to retain or replace the professional ordinarily remain within the Committee of Creditors' commercial wisdom, with tribunal intervention limited to exceptional circumstances. Allegations of bias, misconduct, contractual interference and process deadlock did not establish such circumstances, particularly where the relevant contract resolution was stayed and class creditors supported the professional. The applications for replacement and restraint on further committee meetings were rejected.
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