Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
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Insolvency and BankruptcyMarch 13, 2024Case LawsHC
Constitutional validity - Disciplinary proceedings against insolvency professional agencies - suspension of authorization for assignment - Regulation 23A is liable to be struck down or not - violation of principles of natural justice - Section 204 of IBC is violative of Article 20(2) of the Constitution of India or not - The court dismissed the petitioner's contentions regarding the arbitrary nature of Regulation 23A, its conferral of excessive power on IPAs, and its violation of natural justice principles. - The court upheld the validity of Section 204 of the Insolvency and Bankruptcy Code, rejecting the petitioner's argument. The petitioner is virtually assailing correctness of the findings before the self same Court and pleading for re-consideration of the issue, which is nothing but an appeal in disguise, which cannot be entertained by this Court.
Constitutional validity - Disciplinary proceedings against insolvency professional agencies - suspension of authorization for assignment - Regulation 23A is liable to be struck down or not - violation of principles of natural justice - Section 204 of IBC is violative of Article 20(2) of the Constitution of India or not - The court dismissed the petitioner's contentions regarding the arbitrary nature of Regulation 23A, its conferral of excessive power on IPAs, and its violation of natural justice principles. - The court upheld the validity of Section 204 of the Insolvency and Bankruptcy Code, rejecting the petitioner's argument. The petitioner is virtually assailing correctness of the findings before the self same Court and pleading for re-consideration of the issue, which is nothing but an appeal in disguise, which cannot be entertained by this Court.
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