Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Approval of Resolution Plan - The Appellate Tribunal upheld the approval of the Resolution Plan, stating that there was no violation of statutory provisions. It emphasized the commercial wisdom of the CoC and noted that the plan fairly allocated funds to different classes of creditors. - The Tribunal clarified that the Adjudicating Authority's order did not require the entire amount of the appellant's claim to be kept in escrow. It interpreted the order as intending to hold only the amount provided in the plan against the admitted claim in escrow, subject to the outcome of an execution petition. - The NCLAT dismissed the appellant's appeal against the approval of the plan.
Approval of Resolution Plan - The Appellate Tribunal upheld the approval of the Resolution Plan, stating that there was no violation of statutory provisions. It emphasized the commercial wisdom of the CoC and noted that the plan fairly allocated funds to different classes of creditors. - The Tribunal clarified that the Adjudicating Authority's order did not require the entire amount of the appellant's claim to be kept in escrow. It interpreted the order as intending to hold only the amount provided in the plan against the admitted claim in escrow, subject to the outcome of an execution petition. - The NCLAT dismissed the appellant's appeal against the approval of the plan.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
