Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
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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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