Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
Exclusion of appellant from the Committee of Creditors (CoC) - The Resolution Professional deemed Rare ARC (appellant) akin to a related party, thus ineligible for CoC participation - assignment of term loan in bad faith - The NCLAT found that the assignment from SEFL to Rare ARC was made under suspicious circumstances, with SEFL still holding a significant interest in the loan through security receipts. Moreover, allegations regarding the funding of the assignment transaction by SIFL and SEFL raised doubts about the bona fide nature of the assignment. Consequently, Rare ARC's appeal was dismissed, affirming its exclusion from the CoC.
Exclusion of appellant from the Committee of Creditors (CoC) - The Resolution Professional deemed Rare ARC (appellant) akin to a related party, thus ineligible for CoC participation - assignment of term loan in bad faith - The NCLAT found that the assignment from SEFL to Rare ARC was made under suspicious circumstances, with SEFL still holding a significant interest in the loan through security receipts. Moreover, allegations regarding the funding of the assignment transaction by SIFL and SEFL raised doubts about the bona fide nature of the assignment. Consequently, Rare ARC's appeal was dismissed, affirming its exclusion from the CoC.
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