Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
NCLAT upheld the Committee of Creditors' (CoC) commercial wisdom in rejecting the resolution plan. The sole CoC member abstained from voting, which was deemed a valid exercise of discretion. The liquidation application was filed with CoC's consent, and an e-auction was conducted where Respondents 4-7 submitted a successful bid of Rs. 20.63 Cr, significantly higher than the Appellant's offer of Rs. 8 Cr. The tribunal confirmed the legality of the liquidation process, emphasizing that the CoC's decision cannot be questioned. The sale certificate was issued to the successful bidders, and the appeal was consequently dismissed, upholding the statutory framework under the Insolvency and Bankruptcy Code.
NCLAT upheld the Committee of Creditors' (CoC) commercial wisdom in rejecting the resolution plan. The sole CoC member abstained from voting, which was deemed a valid exercise of discretion. The liquidation application was filed with CoC's consent, and an e-auction was conducted where Respondents 4-7 submitted a successful bid of Rs. 20.63 Cr, significantly higher than the Appellant's offer of Rs. 8 Cr. The tribunal confirmed the legality of the liquidation process, emphasizing that the CoC's decision cannot be questioned. The sale certificate was issued to the successful bidders, and the appeal was consequently dismissed, upholding the statutory framework under the Insolvency and Bankruptcy Code.
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