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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 held that the Adjudicating Authority had jurisdiction to determine whether the subject land is an asset of the corporate debtor, as such questions arise out of or relate to the insolvency resolution process. The proceedings conducted by the Sole Arbitrator and the orders passed did not amount to an arbitral award under the Arbitration & Conciliation Act, 1996, and thus were not binding on the parties. The IRP/RP could rightly include the subject land in the Information Memorandum/CIRP process by virtue of Section 18(1)(f) explanation, as the corporate debtor claimed development rights over the land. The Adjudicating Authority did not err in allowing the intervention petition filed by Art Construction Pvt. Ltd. Consequently, the appeal was dismissed.
The NCLAT held that the Adjudicating Authority had jurisdiction to determine whether the subject land is an asset of the corporate debtor, as such questions arise out of or relate to the insolvency resolution process. The proceedings conducted by the Sole Arbitrator and the orders passed did not amount to an arbitral award under the Arbitration & Conciliation Act, 1996, and thus were not binding on the parties. The IRP/RP could rightly include the subject land in the Information Memorandum/CIRP process by virtue of Section 18(1)(f) explanation, as the corporate debtor claimed development rights over the land. The Adjudicating Authority did not err in allowing the intervention petition filed by Art Construction Pvt. Ltd. Consequently, the appeal was dismissed.
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