Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
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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