Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
Agency reimbursement income follows contractual deposit-liability computation, while pending deposit collections do not constitute deemed-dividend loa...
Membership-consent thresholds for oppression petitions are satisfied by unchallenged voter-list consents, while unsupported forgery claims require pro...
Committee of Creditors may reconsider a resolution plan at any time before the Adjudicating Authority approves it, including after remand to address statutory stakeholder claims. Directions requiring provision for provident fund, gratuity and other claims became final when unchallenged. Although the resolution applicant sought revision, it declined to increase the plan value when the remanded plan was reconsidered. The Committee of Creditors' commercial decision to reject the plan and proceed with liquidation was treated as non-justiciable in these circumstances. The proposed plan's rejection and the challenge to that rejection were upheld, with no basis for appellate interference.
Committee of Creditors may reconsider a resolution plan at any time before the Adjudicating Authority approves it, including after remand to address statutory stakeholder claims. Directions requiring provision for provident fund, gratuity and other claims became final when unchallenged. Although the resolution applicant sought revision, it declined to increase the plan value when the remanded plan was reconsidered. The Committee of Creditors' commercial decision to reject the plan and proceed with liquidation was treated as non-justiciable in these circumstances. The proposed plan's rejection and the challenge to that rejection were upheld, with no basis for appellate interference.
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