Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
NCLAT allowed the appeal and set aside the AA's order rejecting belated home-buyer claims. It held that the RP's affidavit and the Corporate Debtor's records, including the Information Memorandum, evidenced valid allotments and payments by the unit-holders, which the RA and CoC were obliged to consider despite filing delays and prior CoC approval of a plan. The Tribunal found the claims verifiable on the record and required them to be treated in the resolution plan; accordingly the AA's rejection could not be sustained. The matter is remitted for consideration of the said claims in accordance with the RP's submissions and applicable insolvency law.
NCLAT allowed the appeal and set aside the AA's order rejecting belated home-buyer claims. It held that the RP's affidavit and the Corporate Debtor's records, including the Information Memorandum, evidenced valid allotments and payments by the unit-holders, which the RA and CoC were obliged to consider despite filing delays and prior CoC approval of a plan. The Tribunal found the claims verifiable on the record and required them to be treated in the resolution plan; accordingly the AA's rejection could not be sustained. The matter is remitted for consideration of the said claims in accordance with the RP's submissions and applicable insolvency law.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
