Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
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Insolvency and BankruptcyApril 15, 2024Case LawsAT
Fixation of remuneration of liquidator - The Appellate Tribunal recognized the efforts made by the liquidator in attempting to manage the corporate debtor's affairs under challenging circumstances, including legal efforts to vacate asset attachments and manage stakeholder relations. However, it ultimately held that the liquidator’s remuneration could not be dissociated from the actual realization of assets, as prescribed by the IBBI regulations. - The appeal was dismissed on these grounds, reinforcing the principle that liquidator fees should be strictly tied to the effective realization of assets, not merely the efforts or time spent managing the debtor’s affairs without corresponding financial results.
Fixation of remuneration of liquidator - The Appellate Tribunal recognized the efforts made by the liquidator in attempting to manage the corporate debtor's affairs under challenging circumstances, including legal efforts to vacate asset attachments and manage stakeholder relations. However, it ultimately held that the liquidator’s remuneration could not be dissociated from the actual realization of assets, as prescribed by the IBBI regulations. - The appeal was dismissed on these grounds, reinforcing the principle that liquidator fees should be strictly tied to the effective realization of assets, not merely the efforts or time spent managing the debtor’s affairs without corresponding financial results.
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