Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
The NCLT has jurisdiction to modify the scheme of amalgamation u/ss 230-232 read with Section 234 of the Companies Act, 2013. The amendment can be done at any stage. The NCLT Mumbai, while seized of a First Motion Petition, passed directions for changing the valuation and swap ratio. The proposed modification does not require further adherence to regulations for inbound merger or additional approval from the Reserve Bank of India as per FEMA Notification No. FEMA.389/2018-RB. If the impugned order is allowed, the scheme will have to be remodified, resulting in lengthy compliances undertaken for the third time. Therefore, the impugned order is liable to be set aside, and the appeal with the prayers stands allowed.
The NCLT has jurisdiction to modify the scheme of amalgamation u/ss 230-232 read with Section 234 of the Companies Act, 2013. The amendment can be done at any stage. The NCLT Mumbai, while seized of a First Motion Petition, passed directions for changing the valuation and swap ratio. The proposed modification does not require further adherence to regulations for inbound merger or additional approval from the Reserve Bank of India as per FEMA Notification No. FEMA.389/2018-RB. If the impugned order is allowed, the scheme will have to be remodified, resulting in lengthy compliances undertaken for the third time. Therefore, the impugned order is liable to be set aside, and the appeal with the prayers stands allowed.
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