Retrospective cancellation of charitable registration under section 12AB(4) was unsustainable; related-party benefit allegations did not prove nongenu...
Merger control notice and disclosure rules: Supreme Court limits penalties, rejects reopening of approved combination, and sets aside adverse findings...
NCLAT dismissed the appeal involving a suspended corporate director's request for a resolution plan copy. The appellate tribunal ruled that the resolution professional (RP) was justified in requesting an undertaking preventing the appellant and related parties from submitting a competing resolution plan, given that the appellant's brother was simultaneously preparing a plan submission. The tribunal found the RP's precautionary measure reasonable to protect confidential information and prevent potential conflicts of interest in the insolvency proceedings. The appeal was consequently rejected, upholding the RP's discretionary decision to safeguard the resolution plan's integrity.
NCLAT dismissed the appeal involving a suspended corporate director's request for a resolution plan copy. The appellate tribunal ruled that the resolution professional (RP) was justified in requesting an undertaking preventing the appellant and related parties from submitting a competing resolution plan, given that the appellant's brother was simultaneously preparing a plan submission. The tribunal found the RP's precautionary measure reasonable to protect confidential information and prevent potential conflicts of interest in the insolvency proceedings. The appeal was consequently rejected, upholding the RP's discretionary decision to safeguard the resolution plan's integrity.
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