Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
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SC held that the Resolution Plan submitted by JSW for Bhushan Power and Steel Limited was fundamentally flawed, involving multiple procedural and substantive irregularities. The Court found critical non-compliance with mandatory IBC provisions, including improper implementation of the Resolution Plan, failure of the Resolution Professional to verify eligibility criteria, and dubious conduct by the Committee of Creditors. Consequently, the SC quashed the NCLT and NCLAT orders, effectively setting aside the Resolution Plan and directing a fresh resolution process, emphasizing strict adherence to Insolvency and Bankruptcy Code regulations and time-bound resolution mechanisms.
SC held that the Resolution Plan submitted by JSW for Bhushan Power and Steel Limited was fundamentally flawed, involving multiple procedural and substantive irregularities. The Court found critical non-compliance with mandatory IBC provisions, including improper implementation of the Resolution Plan, failure of the Resolution Professional to verify eligibility criteria, and dubious conduct by the Committee of Creditors. Consequently, the SC quashed the NCLT and NCLAT orders, effectively setting aside the Resolution Plan and directing a fresh resolution process, emphasizing strict adherence to Insolvency and Bankruptcy Code regulations and time-bound resolution mechanisms.
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