Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
CIRP - waterfall mechanism - extinguishment of demand of the State Tax Authorities - The Patna High Court ruled in favor of the petitioner, holding that the tax demands for the assessment years 2020-21 and 2022-23 stood extinguished as they were not included in the resolution plan approved by the NCLT. The court emphasized the binding nature of the resolution plan on all stakeholders, including the State Government, and reiterated the principle that claims not lodged during the CIRP process cannot be enforced later.
CIRP - waterfall mechanism - extinguishment of demand of the State Tax Authorities - The Patna High Court ruled in favor of the petitioner, holding that the tax demands for the assessment years 2020-21 and 2022-23 stood extinguished as they were not included in the resolution plan approved by the NCLT. The court emphasized the binding nature of the resolution plan on all stakeholders, including the State Government, and reiterated the principle that claims not lodged during the CIRP process cannot be enforced later.
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