Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
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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...
NCLAT dismissed the appeal challenging the auction notice and denied stay of the impugned order. The Tribunal found no procedural flaws in the liquidation process, noting that appellant's Section 230 scheme was filed with a 224-day delay after the Stakeholders Committee had already rejected it. The liquidator properly conducted valuation according to IBC provisions and regulations, and the auction had attained finality with sale certificate issuance on 17.07.2023. The Tribunal affirmed that completed auction proceedings with issued sale certificates cannot be revisited based on belated procedural challenges, particularly when the appellant failed to establish any procedural irregularities in the auction process.
NCLAT dismissed the appeal challenging the auction notice and denied stay of the impugned order. The Tribunal found no procedural flaws in the liquidation process, noting that appellant's Section 230 scheme was filed with a 224-day delay after the Stakeholders Committee had already rejected it. The liquidator properly conducted valuation according to IBC provisions and regulations, and the auction had attained finality with sale certificate issuance on 17.07.2023. The Tribunal affirmed that completed auction proceedings with issued sale certificates cannot be revisited based on belated procedural challenges, particularly when the appellant failed to establish any procedural irregularities in the auction process.
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