Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
The National Company Law Appellate Tribunal, New Delhi, addressed the modification of a Demerger Scheme's terms by changing the Appointed Date to the date of the Impugned Order's pronouncement. The Tribunal held that if statutory provisions are complied with and there is no violation of law or public policy, the NCLT lacks jurisdiction to question the commercial wisdom of those approving the scheme. Altering the Appointed Date could have significant financial implications, and the Tribunal's role is supervisory if all sanctioning parameters are met. The reliance on a previous case was deemed incorrect as the Appointed Date should align with the scheme's provisions. The appeal was allowed, confirming the Appointed Date as per the scheme and not the date of the NCLT's pronouncement.
The National Company Law Appellate Tribunal, New Delhi, addressed the modification of a Demerger Scheme's terms by changing the Appointed Date to the date of the Impugned Order's pronouncement. The Tribunal held that if statutory provisions are complied with and there is no violation of law or public policy, the NCLT lacks jurisdiction to question the commercial wisdom of those approving the scheme. Altering the Appointed Date could have significant financial implications, and the Tribunal's role is supervisory if all sanctioning parameters are met. The reliance on a previous case was deemed incorrect as the Appointed Date should align with the scheme's provisions. The appeal was allowed, confirming the Appointed Date as per the scheme and not the date of the NCLT's pronouncement.
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