Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
The National Company Law Tribunal (NCLT) upheld the validity of the sale of immovable property by the respondent bank under the SARFAESI Act. The appellant company argued that its shareholder does not have ownership rights over the property. However, the NCLT held that the respondent bank acquired shares and a flat through valid SARFAESI proceedings, amounting to transmission of shares by operation of law. The NCLAT relied on precedents to affirm that an award by an arbitrator falls within the ambit of transmission by operation of law, and the NCLT has powers to condone delays u/s 58 of the Companies Act, 2013. The NCLAT dismissed the appeal, finding no reason to interfere with the reasoned NCLT order.
The National Company Law Tribunal (NCLT) upheld the validity of the sale of immovable property by the respondent bank under the SARFAESI Act. The appellant company argued that its shareholder does not have ownership rights over the property. However, the NCLT held that the respondent bank acquired shares and a flat through valid SARFAESI proceedings, amounting to transmission of shares by operation of law. The NCLAT relied on precedents to affirm that an award by an arbitrator falls within the ambit of transmission by operation of law, and the NCLT has powers to condone delays u/s 58 of the Companies Act, 2013. The NCLAT dismissed the appeal, finding no reason to interfere with the reasoned NCLT order.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4788
Join Channel
TaxTMI 
