Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural just...
Original works exemption excludes standalone boulder transportation, leaving subcontracted railway-project transport services subject to service tax l...
Annual production capacity determinations excluding stenter galleries support refunds for unconstitutional excise levies without an unjust-enrichment ...
Vicarious liability for cheque dishonour requires specific allegations of responsibility and cheque signatory; generic director allegations cannot sus...
IT Resilience Index requires market infrastructure institutions to automate resilience scoring, early warnings, and continuous service-delivery monito...
The Supreme Court upheld a resolution plan worth Rs 19,700 crore by the successful resolution applicant for a corporate debtor, rejecting appeals by its former promoters and finding they engaged in systematic delay tactics to thwart the corporate insolvency resolution process. The court affirmed earlier NCLAT and NCLT findings that the erstwhile management showed lackluster participation, filed multiple frivolous applications across forums, and attended Committee of Creditors meetings minimally; the NCLT had imposed costs on them. The judgment also preserved immunity from prosecution by the investigative agency for the successful resolution applicant.
The Supreme Court upheld a resolution plan worth Rs 19,700 crore by the successful resolution applicant for a corporate debtor, rejecting appeals by its former promoters and finding they engaged in systematic delay tactics to thwart the corporate insolvency resolution process. The court affirmed earlier NCLAT and NCLT findings that the erstwhile management showed lackluster participation, filed multiple frivolous applications across forums, and attended Committee of Creditors meetings minimally; the NCLT had imposed costs on them. The judgment also preserved immunity from prosecution by the investigative agency for the successful resolution applicant.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
