Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Jurisdiction of NCLT - Constitution of its Benches - Competency of Member of the Tribunal to function as a Bench - The Court interprets Section 419(3) of the Companies Act, 2013, and concludes that the proviso allows a single Judicial Member to exercise the powers of the Tribunal if authorized by the President. In this case, the President did authorize a Special Bench comprising of a single Member (Judicial) for specific dates, including the date of the judgment. - The Supreme Court finds that the NCLT did have jurisdiction to admit the application under Section 9 IBC 2016. - Therefore, the appeal was allowed, and the CIRP proceedings were directed to continue as per the Code.
Jurisdiction of NCLT - Constitution of its Benches - Competency of Member of the Tribunal to function as a Bench - The Court interprets Section 419(3) of the Companies Act, 2013, and concludes that the proviso allows a single Judicial Member to exercise the powers of the Tribunal if authorized by the President. In this case, the President did authorize a Special Bench comprising of a single Member (Judicial) for specific dates, including the date of the judgment. - The Supreme Court finds that the NCLT did have jurisdiction to admit the application under Section 9 IBC 2016. - Therefore, the appeal was allowed, and the CIRP proceedings were directed to continue as per the Code.
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