Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
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Insolvency and BankruptcyApril 17, 2024Case LawsAT
CIRP - Liquidation of corporate debtor - Refusal to approve the private sale - The Tribunal acknowledged the procedural challenges presented by the liquidator’s initiation of a private sale, which was contested by another interested party leading to the Adjudicating Authority's decision to allow more bidders to participate, ensuring a competitive process to maximize asset recovery. The Tribunal found that despite the withdrawal of one of the interested parties, the original decision to seek more bids was justified given the potential for higher recovery. It was held that the auction process should proceed with a fresh notice and the opportunity for all interested parties, including those who had expressed earlier interests, to participate.
CIRP - Liquidation of corporate debtor - Refusal to approve the private sale - The Tribunal acknowledged the procedural challenges presented by the liquidator’s initiation of a private sale, which was contested by another interested party leading to the Adjudicating Authority's decision to allow more bidders to participate, ensuring a competitive process to maximize asset recovery. The Tribunal found that despite the withdrawal of one of the interested parties, the original decision to seek more bids was justified given the potential for higher recovery. It was held that the auction process should proceed with a fresh notice and the opportunity for all interested parties, including those who had expressed earlier interests, to participate.
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