Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
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HC analyzed the extinguishment of electricity consumption claims not included in the Corporate Insolvency Resolution Plan (CIRP). The court held that debts not submitted or incorporated in the resolution plan before the effective date stand extinguished. The resolution plan's sanctity is paramount, and subsequent claims cannot be entertained. The court affirmed the first respondent's locus standi to challenge demand notices against group companies. The CIRP resolution plan remains valid and binding unless set aside by a competent authority. The appeal was partly allowed, emphasizing the strict interpretation of the Insolvency and Bankruptcy Code's provisions regarding debt resolution and claim settlement.
HC analyzed the extinguishment of electricity consumption claims not included in the Corporate Insolvency Resolution Plan (CIRP). The court held that debts not submitted or incorporated in the resolution plan before the effective date stand extinguished. The resolution plan's sanctity is paramount, and subsequent claims cannot be entertained. The court affirmed the first respondent's locus standi to challenge demand notices against group companies. The CIRP resolution plan remains valid and binding unless set aside by a competent authority. The appeal was partly allowed, emphasizing the strict interpretation of the Insolvency and Bankruptcy Code's provisions regarding debt resolution and claim settlement.
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