Anti-profiteering obligations survive business demerger, complaint withdrawal, and customized supply arrangements where rate-reduction benefits are no...
Road restoration charges constitute taxable services when requested for commercial pipeline activity, requiring reverse-charge GST from the business r...
Interest on delayed release of requisitioned cash includes statutory pre-assessment interest and restitutionary compensation for unlawful post-assessm...
Incomplete inventory records justify rejecting accounts, while profit estimation requires relevant comparable material and interest falls under other ...
NCLAT upheld the liquidation order of the Corporate Debtor following CoC's unanimous (100%) resolution u/s 33(2) of IBC. While allegations were raised regarding forged documents in Section 7 admission and questionable conduct of Resolution Professional in claim verification, the tribunal found insufficient evidence of manipulation. The additional ledger documents from SVC Bank were deemed admissible as part of judicial record, establishing Corporate Debtor's position as co-borrower and Corporate Guarantor. Despite concerns about CoC's limited resolution efforts, NCLAT confirmed that Section 33(2) leaves minimal discretion when CoC resolves for liquidation with required majority. Given absence of assets and viable resolution options, the appeal was dismissed, affirming the Adjudicating Authority's liquidation order.
NCLAT upheld the liquidation order of the Corporate Debtor following CoC's unanimous (100%) resolution u/s 33(2) of IBC. While allegations were raised regarding forged documents in Section 7 admission and questionable conduct of Resolution Professional in claim verification, the tribunal found insufficient evidence of manipulation. The additional ledger documents from SVC Bank were deemed admissible as part of judicial record, establishing Corporate Debtor's position as co-borrower and Corporate Guarantor. Despite concerns about CoC's limited resolution efforts, NCLAT confirmed that Section 33(2) leaves minimal discretion when CoC resolves for liquidation with required majority. Given absence of assets and viable resolution options, the appeal was dismissed, affirming the Adjudicating Authority's liquidation order.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
