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...
In this NCLAT decision, the Tribunal affirmed its jurisdiction under IBC Section 60(5)(c) to adjudicate maintenance disputes during CIRP. The case involved Supernova Apartment Owners Association seeking to take over maintenance from YG Estates, an agency appointed by the corporate debtor. The Tribunal ruled that since CIRP had commenced against the corporate debtor, all assets including the Supernova project fell under IRP supervision. The registered association under the UP Apartment Act 2010 has statutory rights to assume maintenance responsibilities. YG Estates, merely an agency of the corporate debtor, cannot resist handover to a properly registered association. The NCLAT directed YG Estates to transfer maintenance to the association within seven days.
In this NCLAT decision, the Tribunal affirmed its jurisdiction under IBC Section 60(5)(c) to adjudicate maintenance disputes during CIRP. The case involved Supernova Apartment Owners Association seeking to take over maintenance from YG Estates, an agency appointed by the corporate debtor. The Tribunal ruled that since CIRP had commenced against the corporate debtor, all assets including the Supernova project fell under IRP supervision. The registered association under the UP Apartment Act 2010 has statutory rights to assume maintenance responsibilities. YG Estates, merely an agency of the corporate debtor, cannot resist handover to a properly registered association. The NCLAT directed YG Estates to transfer maintenance to the association within seven days.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
