Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
The HC quashed the order blacklisting the petitioner company for 3 years and debarring it from participating in future tenders by the Government of Tripura. Approving the resolution plan under the I&B Code aims to revive the corporate debtor as a going concern with a clean slate. Blacklisting post-resolution would defeat this objective and be disproportionate after forfeiture of the performance bank guarantee. The plea against blacklisting was not entertained by the Arbitral Tribunal. Denying judicial review would amount to denying a legal remedy. The order of blacklisting was quashed to uphold the I&B Code's aim of corporate revival.
The HC quashed the order blacklisting the petitioner company for 3 years and debarring it from participating in future tenders by the Government of Tripura. Approving the resolution plan under the I&B Code aims to revive the corporate debtor as a going concern with a clean slate. Blacklisting post-resolution would defeat this objective and be disproportionate after forfeiture of the performance bank guarantee. The plea against blacklisting was not entertained by the Arbitral Tribunal. Denying judicial review would amount to denying a legal remedy. The order of blacklisting was quashed to uphold the I&B Code's aim of corporate revival.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
