Minimum alternate tax exclusions for pre-amendment banking companies and expatriate Indian branch salaries remain outside head office expenditure limi...
Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Insolvency and BankruptcyJanuary 31, 2022Case LawsAT
Validity of Direction to place Settlement Proposal, sent by Respondent No. 1 before the CoC for its consideration - Considering the ratio of the Judgement of the Hon'ble Supreme Court in the case of Ebix Singapore, "there was no scope for negotiations between the parties once the CoC has approved the Resolution Plan. Thus, contractual principles and common law remedies, which do not find a rope in the wording or the intent of the IBC, cannot be imported in the intervening period between the acceptance of the CoC Approved Resolution Plan and the Approval by the Adjudicating Authority. - AT
Validity of Direction to place Settlement Proposal, sent by Respondent No. 1 before the CoC for its consideration - Considering the ratio of the Judgement of the Hon'ble Supreme Court in the case of Ebix Singapore, "there was no scope for negotiations between the parties once the CoC has approved the Resolution Plan. Thus, contractual principles and common law remedies, which do not find a rope in the wording or the intent of the IBC, cannot be imported in the intervening period between the acceptance of the CoC Approved Resolution Plan and the Approval by the Adjudicating Authority. - AT
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