SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Section 60(2) of the Insolvency and Bankruptcy Code requires an...
Personal guarantor insolvency jurisdiction follows the corporate debtor's CIRP Bench, enabling inter-territorial transfer and preventing parallel proceedings.
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
Section 60(2) of the Insolvency and Bankruptcy Code requires an insolvency application against a personal guarantor to be filed before the same NCLT Bench where the corporate debtor's CIRP or liquidation is pending, overriding the territorial criterion in Section 60(1). This alignment supports consolidated proceedings, consistency and avoidance of conflicting outcomes. Rule 16(d) of the NCLT Rules permits the President to transfer such proceedings between Benches when necessary to implement Section 60(2); the power is not limited to Benches within one territorial location. Proceedings filed before a Bench lacking this jurisdiction may be quashed, with liberty to file before the competent Bench.
Section 60(2) of the Insolvency and Bankruptcy Code requires an insolvency application against a personal guarantor to be filed before the same NCLT Bench where the corporate debtor's CIRP or liquidation is pending, overriding the territorial criterion in Section 60(1). This alignment supports consolidated proceedings, consistency and avoidance of conflicting outcomes. Rule 16(d) of the NCLT Rules permits the President to transfer such proceedings between Benches when necessary to implement Section 60(2); the power is not limited to Benches within one territorial location. Proceedings filed before a Bench lacking this jurisdiction may be quashed, with liberty to file before the competent Bench.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4894 
