Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Preventive suspension requires an immediate continuing threat and cannot become indefinite without inquiry, fresh evidence, or proportionate safeguard...
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The corporate debtor cannot be prosecuted for prior liability after the approval of the Resolution Plan, as per Section 32-A of the Insolvency & Bankruptcy Code (IBC). However, the protection u/s 32-A is limited to the corporate debtor and does not extend to its Directors who were in charge when the offence was committed or were signatories to the cheque. The Supreme Court in Ajay Kumar Radheshuyam Goenka case clarified that in proceedings u/s 138 of the Negotiable Instruments Act, if the plan is approved or the company dissolved during the pendency, the Directors and other accused cannot escape liability by citing dissolution. They will have to continue facing prosecution. The High Court allowed the Criminal Original Petitions.
The corporate debtor cannot be prosecuted for prior liability after the approval of the Resolution Plan, as per Section 32-A of the Insolvency & Bankruptcy Code (IBC). However, the protection u/s 32-A is limited to the corporate debtor and does not extend to its Directors who were in charge when the offence was committed or were signatories to the cheque. The Supreme Court in Ajay Kumar Radheshuyam Goenka case clarified that in proceedings u/s 138 of the Negotiable Instruments Act, if the plan is approved or the company dissolved during the pendency, the Directors and other accused cannot escape liability by citing dissolution. They will have to continue facing prosecution. The High Court allowed the Criminal Original Petitions.
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