Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Doctrine of necessity invoked to grant opportunity to deposit balance amount into liquidation account to avoid liquidation and enable Corporate Debtor to revive as going concern. Section 60(5) of Insolvency and Bankruptcy Code, 2016 empowers Tribunal to pass appropriate order to meet Code's objective despite contrary provisions. Appellant granted last chance to deposit amount within one month, failing which relaxation lapses and liquidator can seek alternate buyer as per law. Appeal disposed of.
Doctrine of necessity invoked to grant opportunity to deposit balance amount into liquidation account to avoid liquidation and enable Corporate Debtor to revive as going concern. Section 60(5) of Insolvency and Bankruptcy Code, 2016 empowers Tribunal to pass appropriate order to meet Code's objective despite contrary provisions. Appellant granted last chance to deposit amount within one month, failing which relaxation lapses and liquidator can seek alternate buyer as per law. Appeal disposed of.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
