Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
The NCLAT upheld the approval of the resolution plan under Section 30(2) of the IBC, finding no violation of statutory provisions or CIRP Regulations, 2016. The plan adequately addressed the interests of all stakeholders, including secured financial creditors and operational creditors, with a payout significantly exceeding the liquidation value. The Tribunal recognized that the legislative framework does not mandate payments to operational creditors upon liquidation, and no breach of Section 30(2)(b) was established. It declined to interfere with the commercial wisdom of the CoC, as no grounds were shown to contravene the resolution plan's approval. Consequently, the appeal challenging the impugned order was dismissed for lack of merit.
The NCLAT upheld the approval of the resolution plan under Section 30(2) of the IBC, finding no violation of statutory provisions or CIRP Regulations, 2016. The plan adequately addressed the interests of all stakeholders, including secured financial creditors and operational creditors, with a payout significantly exceeding the liquidation value. The Tribunal recognized that the legislative framework does not mandate payments to operational creditors upon liquidation, and no breach of Section 30(2)(b) was established. It declined to interfere with the commercial wisdom of the CoC, as no grounds were shown to contravene the resolution plan's approval. Consequently, the appeal challenging the impugned order was dismissed for lack of merit.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
