Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
The NCLAT dismissed the application seeking to confine the corporate insolvency resolution process (CIRP) to only the 'Spaze Arrow' project of the corporate debtor. The tribunal observed that claims had been filed by allottees of various projects, including 'Spaze Arrow' and 'Corporate Park'. Confining the CIRP to a single project would exclude claims from other projects. The tribunal noted that the CIRP against the corporate debtor for the 'Corporate Park' project had commenced after obtaining the occupancy and completion certificates, but the proceedings were later set aside due to a settlement. Considering the facts and circumstances, the NCLAT declined to pass an order limiting the CIRP to only the 'Spaze Arrow' project as requested by the applicant.
The NCLAT dismissed the application seeking to confine the corporate insolvency resolution process (CIRP) to only the 'Spaze Arrow' project of the corporate debtor. The tribunal observed that claims had been filed by allottees of various projects, including 'Spaze Arrow' and 'Corporate Park'. Confining the CIRP to a single project would exclude claims from other projects. The tribunal noted that the CIRP against the corporate debtor for the 'Corporate Park' project had commenced after obtaining the occupancy and completion certificates, but the proceedings were later set aside due to a settlement. Considering the facts and circumstances, the NCLAT declined to pass an order limiting the CIRP to only the 'Spaze Arrow' project as requested by the applicant.
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