Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
The NCLAT held that suspension of authorisation for assignment (AFA) under Bye-Law 23A does not automatically debar a Resolution Professional (RP) from continuing with pending or existing assignments; it only prohibits the RP from accepting fresh assignments. The Tribunal found no majority opinion supporting the replacement of the RP and set aside the prior order directing such replacement. The statutory framework under the IBBI Regulations indicates that suspension as a penalty restricts new assignments but does not affect ongoing ones. Consequently, the directions for replacing the RP were quashed, and the Adjudicating Authority was permitted to proceed with the plan approval application. The appeal was allowed in part, clarifying the scope of suspension under Bye-Law 23A and protecting the RP's continuation on existing cases.
The NCLAT held that suspension of authorisation for assignment (AFA) under Bye-Law 23A does not automatically debar a Resolution Professional (RP) from continuing with pending or existing assignments; it only prohibits the RP from accepting fresh assignments. The Tribunal found no majority opinion supporting the replacement of the RP and set aside the prior order directing such replacement. The statutory framework under the IBBI Regulations indicates that suspension as a penalty restricts new assignments but does not affect ongoing ones. Consequently, the directions for replacing the RP were quashed, and the Adjudicating Authority was permitted to proceed with the plan approval application. The appeal was allowed in part, clarifying the scope of suspension under Bye-Law 23A and protecting the RP's continuation on existing cases.
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