Tariff classification of Digital Axle Counters affirmed as electro-mechanical railway signalling equipment, eliminating duty, confiscation and penalty...
Insolvency and BankruptcyMarch 12, 2024Case LawsAT
CIRP - Calculation of the interest - admission of the claim by the Resolution Professional - The Adjudicating Authority directed to examine the exorbitantly high interest and charges admitted by the Resolution Professional. It was deemed appropriate to grant interim relief restraining the COC from considering and approving the resolution plans during the pendency of the case.The NCLAT held that the matter of interest and charges does not fall within the ambit of the COC. The responsibility of verifying claims submitted by parties lies with the Resolution Professional.
CIRP - Calculation of the interest - admission of the claim by the Resolution Professional - The Adjudicating Authority directed to examine the exorbitantly high interest and charges admitted by the Resolution Professional. It was deemed appropriate to grant interim relief restraining the COC from considering and approving the resolution plans during the pendency of the case.The NCLAT held that the matter of interest and charges does not fall within the ambit of the COC. The responsibility of verifying claims submitted by parties lies with the Resolution Professional.
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