Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
The NCLAT determined that dissenting financial creditors are entitled to a pro-rata share of the resolution value rather than merely the liquidation value when the resolution value exceeds liquidation value. The tribunal ruled this approach is "fair and equitable" under Section 30(2)(b)(ii) of the I&B Code. The appellant (RBL Bank) was awarded Rs. 42.09 Crores, with all dissenting FCs to receive proportionate shares of the resolution plan value. Regarding payment priority, the NCLAT held that dissenting creditors must be paid first, but on a pro-rata basis when payments come in installments. The tribunal ordered Respondent No. 1 to remit the determined amount to the Resolution Professional by March 31, 2025, for distribution among financial creditors as detailed in the plan.
The NCLAT determined that dissenting financial creditors are entitled to a pro-rata share of the resolution value rather than merely the liquidation value when the resolution value exceeds liquidation value. The tribunal ruled this approach is "fair and equitable" under Section 30(2)(b)(ii) of the I&B Code. The appellant (RBL Bank) was awarded Rs. 42.09 Crores, with all dissenting FCs to receive proportionate shares of the resolution plan value. Regarding payment priority, the NCLAT held that dissenting creditors must be paid first, but on a pro-rata basis when payments come in installments. The tribunal ordered Respondent No. 1 to remit the determined amount to the Resolution Professional by March 31, 2025, for distribution among financial creditors as detailed in the plan.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
