Invoice-based recovery claims remain time-barred despite separate winding-up proceedings, absent valid acknowledgment or part-payment of the disputed ...
Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
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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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