Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
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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