Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
The NCLAT examined a challenge to a resolution plan under the Insolvency and Bankruptcy Code. The Tribunal held that the applicant, as an unsuccessful resolution applicant, lacks locus standi to challenge the plan, except on specific eligibility grounds. The CoC's commercial wisdom in selecting a resolution plan was deemed non-justiciable. The Tribunal found no violation of natural justice, confirmed Respondent No. 3's eligibility under Section 29A, and determined that a related party connection was not established. The revised financial bid submitted post-timeline was rejected. Consequently, the Tribunal dismissed the appeal, upholding the original resolution plan's approval.
The NCLAT examined a challenge to a resolution plan under the Insolvency and Bankruptcy Code. The Tribunal held that the applicant, as an unsuccessful resolution applicant, lacks locus standi to challenge the plan, except on specific eligibility grounds. The CoC's commercial wisdom in selecting a resolution plan was deemed non-justiciable. The Tribunal found no violation of natural justice, confirmed Respondent No. 3's eligibility under Section 29A, and determined that a related party connection was not established. The revised financial bid submitted post-timeline was rejected. Consequently, the Tribunal dismissed the appeal, upholding the original resolution plan's approval.
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