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...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Earnest money guarantees furnished by scheme proponents in a liquidation process cannot be recovered merely because the proponent withdraws after its proposed scheme is not accepted. The guarantee secures submission of the proponent's own scheme and does not require submission of a scheme meeting the satisfaction of the stakeholders' committee or Adjudicating Authority. Commercial considerations and delay may justify a decision not to continue participating. Without an established legal basis imposing liability, withdrawal does not permit recovery of the guarantee for the liquidation estate. The direction requiring deposit of the earnest money guarantee into the liquidation estate was therefore set aside.
Earnest money guarantees furnished by scheme proponents in a liquidation process cannot be recovered merely because the proponent withdraws after its proposed scheme is not accepted. The guarantee secures submission of the proponent's own scheme and does not require submission of a scheme meeting the satisfaction of the stakeholders' committee or Adjudicating Authority. Commercial considerations and delay may justify a decision not to continue participating. Without an established legal basis imposing liability, withdrawal does not permit recovery of the guarantee for the liquidation estate. The direction requiring deposit of the earnest money guarantee into the liquidation estate was therefore set aside.
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