Separate speaking orders on reopening objections are mandatory; deciding them within reassessment invalidates jurisdiction and precludes revival of st...
Compulsorily convertible debentures remain debt before conversion, preventing transfer-pricing and interest-deduction disallowances on the stated fact...
Stock-in-trade transfer taxability follows possession and consideration, not later conveyance registration, limiting deemed-value provisions to the ac...
Material defects in the Information Memorandum, including overstated debt, omission of guarantor recovery, erroneous creditor ranking and undisclosed SEZ de-notification, distort voting, valuation and resolution-plan feasibility; commercial wisdom cannot cure those defects. A corporate guarantor that pays the financial creditor is subrogated to secured rights only to the amount paid and must be ranked as a secured financial creditor. The financial creditor's claim against the principal borrower must be recomputed from the finally adjudicated debt after crediting recovery from the guarantor. A plan requiring conversion or sub-leasing of SEZ leasehold land without statutory consent or completed approvals is neither feasible nor viable. The process must restart with a corrected Information Memorandum and fresh resolution invitation.
Material defects in the Information Memorandum, including overstated debt, omission of guarantor recovery, erroneous creditor ranking and undisclosed SEZ de-notification, distort voting, valuation and resolution-plan feasibility; commercial wisdom cannot cure those defects. A corporate guarantor that pays the financial creditor is subrogated to secured rights only to the amount paid and must be ranked as a secured financial creditor. The financial creditor's claim against the principal borrower must be recomputed from the finally adjudicated debt after crediting recovery from the guarantor. A plan requiring conversion or sub-leasing of SEZ leasehold land without statutory consent or completed approvals is neither feasible nor viable. The process must restart with a corrected Information Memorandum and fresh resolution invitation.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
