Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
Public servant status under anti-corruption law extends to recognised stock exchange leadership; constitutional and sanction challenges do not succeed...
Acquiescence, homebuyer protection and clean-slate resolution principles prevent landowners from disrupting an integrated project through late termina...
NCLAT upheld the Committee of Creditors' (CoC) invocation of Performance Bank Guarantee (PBG) against the Successful Resolution Applicant (SRA) for failure to implement the approved Resolution Plan. The Appellate Tribunal found the PBG invocation valid under the Process Memorandum, rejected SRA's arguments about equity infusion, and determined that non-disclosure of Transaction Audit Report did not vitiate the Resolution Plan. The Tribunal directed refund of Rs. 22.09 crores to SRA from the fixed deposit after paying Rs. 20.9 crores to Interim Trade Creditors, denied SRA's 12% interest claim, and dismissed the Bank of Baroda's compensation application. The appeal was disposed of with the Resolution Plan implementation deemed unsustainable by the SRA.
NCLAT upheld the Committee of Creditors' (CoC) invocation of Performance Bank Guarantee (PBG) against the Successful Resolution Applicant (SRA) for failure to implement the approved Resolution Plan. The Appellate Tribunal found the PBG invocation valid under the Process Memorandum, rejected SRA's arguments about equity infusion, and determined that non-disclosure of Transaction Audit Report did not vitiate the Resolution Plan. The Tribunal directed refund of Rs. 22.09 crores to SRA from the fixed deposit after paying Rs. 20.9 crores to Interim Trade Creditors, denied SRA's 12% interest claim, and dismissed the Bank of Baroda's compensation application. The appeal was disposed of with the Resolution Plan implementation deemed unsustainable by the SRA.
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