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...
Interpretation of Regulation 21A of IBBI (Liquidation Process) Regulations, 2016 regarding secured creditor's obligation to realize security interest within stipulated time. Regulation casts duty on secured creditor to pay liquidator estimated amount or excess realized value within prescribed timeline, failing which asset becomes part of liquidation estate. Secured creditor's contention of non-communication of estimated amount by liquidator rejected as misplaced. Law mandates secured creditor to complete realization process within 180 days, after which asset vests with liquidation estate under Regulation 21A(3). Secured creditor's belated claim over remaining property portion rejected for non-compliance with 30-day intimation requirement. Liquidator's decision upheld as per regulations. Application dismissed by Tribunal.
Interpretation of Regulation 21A of IBBI (Liquidation Process) Regulations, 2016 regarding secured creditor's obligation to realize security interest within stipulated time. Regulation casts duty on secured creditor to pay liquidator estimated amount or excess realized value within prescribed timeline, failing which asset becomes part of liquidation estate. Secured creditor's contention of non-communication of estimated amount by liquidator rejected as misplaced. Law mandates secured creditor to complete realization process within 180 days, after which asset vests with liquidation estate under Regulation 21A(3). Secured creditor's belated claim over remaining property portion rejected for non-compliance with 30-day intimation requirement. Liquidator's decision upheld as per regulations. Application dismissed by Tribunal.
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