Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
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...
The Appellate Tribunal found the Interim Resolution Professional's (IRP) conduct to be biased, premeditated, and authoritarian, violating the core objectives and principles of the Insolvency and Bankruptcy Code (IBC). The IRP prematurely admitted the claim of a creditor and reconstituted the Committee of Creditors (CoC) after being voted out, enabling the new creditor to appoint him as the Resolution Professional (RP). This collusive practice compromised the integrity and transparency of the insolvency resolution process. The Tribunal held that such conduct goes against the objectives of the IBC and could enable erstwhile promoters' re-entry into the corporate debtor. Consequently, the appeal was dismissed, emphasizing the need for neutrality and impartiality in CIRP proceedings to uphold the IBC's principles.
The Appellate Tribunal found the Interim Resolution Professional's (IRP) conduct to be biased, premeditated, and authoritarian, violating the core objectives and principles of the Insolvency and Bankruptcy Code (IBC). The IRP prematurely admitted the claim of a creditor and reconstituted the Committee of Creditors (CoC) after being voted out, enabling the new creditor to appoint him as the Resolution Professional (RP). This collusive practice compromised the integrity and transparency of the insolvency resolution process. The Tribunal held that such conduct goes against the objectives of the IBC and could enable erstwhile promoters' re-entry into the corporate debtor. Consequently, the appeal was dismissed, emphasizing the need for neutrality and impartiality in CIRP proceedings to uphold the IBC's principles.
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