Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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The NCLAT dismissed an appeal challenging a scheme of arrangement between ICICI Bank and ICICI Securities. The Tribunal found that SEBI's relaxation from reverse book building requirements was within its regulatory powers under Regulation 42 of the Delisting Regulations. The valuation complied with Regulation 37(2)(j), meeting the minimum 60-day VWAP requirement. The court affirmed that valuation determinations should be left to accounting experts. ICICI Bank's shareholder outreach did not constitute undue influence, and disclosures in the explanatory statement were deemed sufficient. The appellant lacked standing to object under Section 230(4) of the Companies Act, 2013, and failed to demonstrate any procedural illegality or prejudice to public shareholders.
The NCLAT dismissed an appeal challenging a scheme of arrangement between ICICI Bank and ICICI Securities. The Tribunal found that SEBI's relaxation from reverse book building requirements was within its regulatory powers under Regulation 42 of the Delisting Regulations. The valuation complied with Regulation 37(2)(j), meeting the minimum 60-day VWAP requirement. The court affirmed that valuation determinations should be left to accounting experts. ICICI Bank's shareholder outreach did not constitute undue influence, and disclosures in the explanatory statement were deemed sufficient. The appellant lacked standing to object under Section 230(4) of the Companies Act, 2013, and failed to demonstrate any procedural illegality or prejudice to public shareholders.
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