Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
Public servant status under anti-corruption law extends to recognised stock exchange leadership; constitutional and sanction challenges do not succeed...
Acquiescence, homebuyer protection and clean-slate resolution principles prevent landowners from disrupting an integrated project through late termina...
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Insolvency and BankruptcyApril 19, 2024Case LawsAT
Approval of Resolution Plan - whether the Appellant is secured creditor of the Corporate Debtor or not? - The Tribunal noted that the appellant based their claim on sanction letters and other documents which did not explicitly create a security interest over the corporate debtor’s assets directly. It was highlighted that the mortgages were held by guarantors, not the corporate debtor, and the registration of such charges was not adequately completed as per the requirements of the Companies Act, 2013. The NCLAT dismissed the appeal, upholding the resolution plan and affirming the decision of the lower tribunal.
Approval of Resolution Plan - whether the Appellant is secured creditor of the Corporate Debtor or not? - The Tribunal noted that the appellant based their claim on sanction letters and other documents which did not explicitly create a security interest over the corporate debtor’s assets directly. It was highlighted that the mortgages were held by guarantors, not the corporate debtor, and the registration of such charges was not adequately completed as per the requirements of the Companies Act, 2013. The NCLAT dismissed the appeal, upholding the resolution plan and affirming the decision of the lower tribunal.
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