TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Highlights
of of All Highlights
Note
Bookmark
Share
Don't have an account? Register Here
of NCLAT affirmed the impugned order and dismissed the appeal, holding that the Resolution Professional was lawfully entitled to take custody of share certificates and related documents of Subsidiary A and Subsidiary B as assets of the Corporate Debtor. The Tribunal held that under s.25(2)(a) and s.18(1)(f)(v) of the Code the RP must assume control of assets over which the Corporate Debtor retains ownership rights, even if held by third parties, and that the Appellant, having failed to prove payment of consideration or lawful entitlement, could not retain possession. The Adjudicating Authority possessed jurisdiction under ss.60(5), 63, 231 and 238 to grant the reliefs sought; appeal rejected.
TaxTMI 
TaxTMI 
