Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Insolvency and BankruptcySeptember 12, 2023Case LawsSCH
Interpretation of statute - Scope of the term "OR" - The word ‘or’ in the said sub-regulation should be read as ‘in addition to’ and not ‘to the exclusion of’. This means that the resolution professional may, if envisaged in the request of the resolution plan, can allow under the said sub-regulation, modification of the resolution plan received, albeit only once. - SC
Interpretation of statute - Scope of the term "OR" - The word ‘or’ in the said sub-regulation should be read as ‘in addition to’ and not ‘to the exclusion of’. This means that the resolution professional may, if envisaged in the request of the resolution plan, can allow under the said sub-regulation, modification of the resolution plan received, albeit only once. - SC
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