Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
The NCLAT held that the erstwhile Resolution Professional (RP) acted in deference to the commercial wisdom of the Committee of Creditors (CoC), which is paramount. Although the Adjudicating Authority observed irregularities and non-compliance with the CIRP Regulations by the RP, the NCLAT modified the order to expunge those adverse remarks against the RP's performance and conduct. The RP had taken necessary steps envisaged under the IBC for conducting the CIRP, including preparing the Information Memorandum, inviting Expressions of Interest, appointing a Transaction Auditor, and filing applications u/ss 43 and 66. The CoC had approved the resolution plan with the requisite majority, exercising its commercial wisdom. Therefore, the RP cannot be blamed for breaching the IBC by acting on the CoC's decision. The rest of the Adjudicating Authority's order remained unchanged.
The NCLAT held that the erstwhile Resolution Professional (RP) acted in deference to the commercial wisdom of the Committee of Creditors (CoC), which is paramount. Although the Adjudicating Authority observed irregularities and non-compliance with the CIRP Regulations by the RP, the NCLAT modified the order to expunge those adverse remarks against the RP's performance and conduct. The RP had taken necessary steps envisaged under the IBC for conducting the CIRP, including preparing the Information Memorandum, inviting Expressions of Interest, appointing a Transaction Auditor, and filing applications u/ss 43 and 66. The CoC had approved the resolution plan with the requisite majority, exercising its commercial wisdom. Therefore, the RP cannot be blamed for breaching the IBC by acting on the CoC's decision. The rest of the Adjudicating Authority's order remained unchanged.
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