Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
Page of 4801
Press 'Enter' after typing page number.
341 to 360 of 96001 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The National Company Law Appellate Tribunal (NCLAT) dismissed the appeals filed against the order of the Adjudicating Authority directing lenders to release Non-Fund Based (NFB) facilities as per the approved Resolution Plan. The NCLAT held that when a Resolution Plan is approved, it is obligatory for all stakeholders to act in a manner to implement it. Except Bank of Baroda, no other lender had issued bank guarantees or letters of credit, despite the Resolution Plan providing for roll-over of NFB facilities. The company, being an EPC contractor, requires NFB facilities to undertake contracts and generate revenue for repayment obligations under the Resolution Plan. Non-release of NFB limits would jeopardize the company's operations and impact repayment to assenting creditors. The NFB Agreement must be interpreted harmoniously with the Resolution Plan to give effect to its intent and not render its clauses unworkable.
The National Company Law Appellate Tribunal (NCLAT) dismissed the appeals filed against the order of the Adjudicating Authority directing lenders to release Non-Fund Based (NFB) facilities as per the approved Resolution Plan. The NCLAT held that when a Resolution Plan is approved, it is obligatory for all stakeholders to act in a manner to implement it. Except Bank of Baroda, no other lender had issued bank guarantees or letters of credit, despite the Resolution Plan providing for roll-over of NFB facilities. The company, being an EPC contractor, requires NFB facilities to undertake contracts and generate revenue for repayment obligations under the Resolution Plan. Non-release of NFB limits would jeopardize the company's operations and impact repayment to assenting creditors. The NFB Agreement must be interpreted harmoniously with the Resolution Plan to give effect to its intent and not render its clauses unworkable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
