Transfer-pricing aggregation of distinct support-service and subcontract transactions was rejected, while debt-free receivables attracted no notional ...
Customs exemptions cover photovoltaic assembly machinery and PVF backsheets, while fully declared cleared imports may avoid confiscation and penalties...
Specific tariff classification for LCD devices overrides treatment as electricity-meter parts, defeating differential duty, extended limitation, and p...
Stayed disciplinary punishment does not establish unfitness for insolvency professional registration; reconsideration must disregard mere pendency of ...
Indirect corporate control can create related-party status, excluding financial creditors from Committee of Creditors representation, participation an...
Scientific research association approval requires continuing SIRO status, annual donation reporting, and donor certificates for the approved foundatio...
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The NCLAT dismissed the appeal filed by the Appellant challenging the approval of the resolution plan for the Corporate Debtor. The key points are: The Interim Resolution Professional made a public announcement with a deadline for claim submissions, which the Appellant failed to meet despite being informed about the CIRP initiation. The Resolution Professional regularly updated the list of creditors and their claim status on the Corporate Debtor's website and IBBI portal, but the Appellant did not raise objections regarding rejection of their claim during the CIRP period or when the resolution plan was approved. The NCLAT held that the Resolution Professional acted diligently, and the Appellant's objections to the resolution plan approval based on rejection of their belated claim lacked merit. The Appellant's claim of being a secured creditor was also found lacking force. Consequently, the NCLAT dismissed the appeal as devoid of merit.
The NCLAT dismissed the appeal filed by the Appellant challenging the approval of the resolution plan for the Corporate Debtor. The key points are: The Interim Resolution Professional made a public announcement with a deadline for claim submissions, which the Appellant failed to meet despite being informed about the CIRP initiation. The Resolution Professional regularly updated the list of creditors and their claim status on the Corporate Debtor's website and IBBI portal, but the Appellant did not raise objections regarding rejection of their claim during the CIRP period or when the resolution plan was approved. The NCLAT held that the Resolution Professional acted diligently, and the Appellant's objections to the resolution plan approval based on rejection of their belated claim lacked merit. The Appellant's claim of being a secured creditor was also found lacking force. Consequently, the NCLAT dismissed the appeal as devoid of merit.
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