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 ...
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The Appellate Tribunal examined the applicability of Section 240A of the Insolvency and Bankruptcy Code (IBC) to the Corporate Debtor registered as an MSME and whether the Successful Resolution Applicant (SRA) was ineligible u/s 29A(c) of the IBC to submit the Resolution Plan. The Adjudicating Authority had held the SRA ineligible, considering the Managing Director's control over the Corporate Debtor and Financial Creditor. However, the Appellate Tribunal observed that the Corporate Debtor's account became a Non-Performing Asset after it was registered as an MSME. Applying Section 240A, the SRA's ineligibility u/s 29A(c) cannot be reckoned when the account was declared non-performing under its management. No other ineligibility was pointed out. The Appellate Tribunal set aside the Adjudicating Authority's order, dismissed the Suspended Director's application, allowed the Resolution Professional's application, and approved the Resolution Plan.
The Appellate Tribunal examined the applicability of Section 240A of the Insolvency and Bankruptcy Code (IBC) to the Corporate Debtor registered as an MSME and whether the Successful Resolution Applicant (SRA) was ineligible u/s 29A(c) of the IBC to submit the Resolution Plan. The Adjudicating Authority had held the SRA ineligible, considering the Managing Director's control over the Corporate Debtor and Financial Creditor. However, the Appellate Tribunal observed that the Corporate Debtor's account became a Non-Performing Asset after it was registered as an MSME. Applying Section 240A, the SRA's ineligibility u/s 29A(c) cannot be reckoned when the account was declared non-performing under its management. No other ineligibility was pointed out. The Appellate Tribunal set aside the Adjudicating Authority's order, dismissed the Suspended Director's application, allowed the Resolution Professional's application, and approved the Resolution Plan.
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