Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
Insolvency and BankruptcyDecember 24, 2022Case LawsHC
CIRP - Seeking appointment of a sole arbitrator for the resolution of disputes between the parties - The purpose and rationale behind granting a moratorium is to ensure that the assets of the corporate debtor are protected, with an intention to keep the company a going concern and to use the period to strengthen its financial position. It means, the intent of the order of the NCLAT is to protect the assets of IL&FS and its group companies in order to make the resolution process effective/purposeful. - Since, the matter is pending before the Supreme Court and there is no stay of the NCLAT order - HC
CIRP - Seeking appointment of a sole arbitrator for the resolution of disputes between the parties - The purpose and rationale behind granting a moratorium is to ensure that the assets of the corporate debtor are protected, with an intention to keep the company a going concern and to use the period to strengthen its financial position. It means, the intent of the order of the NCLAT is to protect the assets of IL&FS and its group companies in order to make the resolution process effective/purposeful. - Since, the matter is pending before the Supreme Court and there is no stay of the NCLAT order - HC
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