Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural just...
Insolvency and BankruptcyAugust 30, 2019Case LawsAT
Initiation of CIRP - Financial Creditor or not - Appellant settled the dues in full or part by way of transfer of shares. Now it is for the Appellant to transfer the shares in accordance with law but it cannot be denied that the Appellant is the owner of the shares - Appellant cannot be taken into consideration for the purpose of collating the claim of any claimant (creditor) by the ‘Resolution Professional’ under Section 18 of the I&B Code.
Initiation of CIRP - Financial Creditor or not - Appellant settled the dues in full or part by way of transfer of shares. Now it is for the Appellant to transfer the shares in accordance with law but it cannot be denied that the Appellant is the owner of the shares - Appellant cannot be taken into consideration for the purpose of collating the claim of any claimant (creditor) by the ‘Resolution Professional’ under Section 18 of the I&B Code.
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