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 High Court held that the Deed of Guarantee was conditional upon the approval of the CDR package by the CDR-EG and acceptance by all lenders. Since the CDR package was not approved, the Deed of Guarantee did not become operative. The Court declared by way of interim relief that the Deed of Guarantee dated 10 April 2014 has not become operative. However, this interim declaration does not stay the proceedings initiated against the Plaintiff by the banks before the DRT under the RDB Act or the proceedings before the Tribunals under the IBC, 2016. The Tribunals may consider the interim declaration while exercising their statutory jurisdiction.
The High Court held that the Deed of Guarantee was conditional upon the approval of the CDR package by the CDR-EG and acceptance by all lenders. Since the CDR package was not approved, the Deed of Guarantee did not become operative. The Court declared by way of interim relief that the Deed of Guarantee dated 10 April 2014 has not become operative. However, this interim declaration does not stay the proceedings initiated against the Plaintiff by the banks before the DRT under the RDB Act or the proceedings before the Tribunals under the IBC, 2016. The Tribunals may consider the interim declaration while exercising their statutory jurisdiction.
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TaxTMI 
TaxTMI 
of 4886 
