Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Scope of CIRP costs - Section 5(13) and Regulation 31 - waterfall mechanism - contract was completed during the CIRP period - The Tribunal emphasized that for a claim to be classified as CIRP cost, it must be directly related to maintaining the Corporate Debtor as a going concern and approved by the CoC. The primacy of CoC in such determinations. - Regarding Role of Contractual Terms: The Tribunal noted that payments to RBM Enterprises were contingent on NTPC payments to SHEL, which did not materialize. Therefore, the claim did not qualify as a CIRP cost. - Ultimately, the Tribunal overturned the Adjudicating Authority's order, declaring that the claim by RBM Enterprises does not meet the criteria for CIRP costs and should be classified under Section 53 of the Code for liquidation distribution.
Scope of CIRP costs - Section 5(13) and Regulation 31 - waterfall mechanism - contract was completed during the CIRP period - The Tribunal emphasized that for a claim to be classified as CIRP cost, it must be directly related to maintaining the Corporate Debtor as a going concern and approved by the CoC. The primacy of CoC in such determinations. - Regarding Role of Contractual Terms: The Tribunal noted that payments to RBM Enterprises were contingent on NTPC payments to SHEL, which did not materialize. Therefore, the claim did not qualify as a CIRP cost. - Ultimately, the Tribunal overturned the Adjudicating Authority's order, declaring that the claim by RBM Enterprises does not meet the criteria for CIRP costs and should be classified under Section 53 of the Code for liquidation distribution.
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