Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
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The court upheld the approval of the resolution plan, rejecting the wrongful allocation of Rs. 79 lakhs as the liquidation value. The Supreme Court's decision in Amit Metaliks Limited, considering Sections 30(4)(2) and 53, held that the NCLAT rightly observed that the amendment to Section 30(4) amplified the CoC's considerations for exercising commercial wisdom regarding the viability and feasibility of the resolution plan, ensuring fair distribution among similarly situated creditors. The court relied on Amit Metaliks and Paridhi Finvest Pvt. Ltd., where the dissenting financial creditor's claim for the liquidation value payment was rejected. Despite the pending larger bench interpretation of Section 30(2)(b)(ii), the Supreme Court's decision in Amit Metaliks is subsisting, leading to the dismissal of the appeal.
The court upheld the approval of the resolution plan, rejecting the wrongful allocation of Rs. 79 lakhs as the liquidation value. The Supreme Court's decision in Amit Metaliks Limited, considering Sections 30(4)(2) and 53, held that the NCLAT rightly observed that the amendment to Section 30(4) amplified the CoC's considerations for exercising commercial wisdom regarding the viability and feasibility of the resolution plan, ensuring fair distribution among similarly situated creditors. The court relied on Amit Metaliks and Paridhi Finvest Pvt. Ltd., where the dissenting financial creditor's claim for the liquidation value payment was rejected. Despite the pending larger bench interpretation of Section 30(2)(b)(ii), the Supreme Court's decision in Amit Metaliks is subsisting, leading to the dismissal of the appeal.
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