Notification No. 12/97-Customs(N.T.) amendment adds Malur Inland Container Depot in Karnataka to authorized locations for import unloading and export ...
Authority rules B+G+31 service apartment is commercial building construction, not multi-storey residential for tax classification under RERA definitio...
NCLAT set aside the impugned Adjudicating Authority order and upheld the Committee of Creditors' approval of the sale of certain non-core, encumbered assets of the corporate debtor, holding that the CoC's decision to effect an outright transfer to related entities was a commercially rational choice within the exclusive domain of the CoC and thus non-justiciable except for compliance with the Code. The Tribunal held Regulation 29 does not prohibit a CoC-sanctioned sale where the secured creditors (who were CoC members) consented, and that Regulation 36A(1A) is inapplicable as it post-dates the CoC approval. Directions compelling separate RPs to invite independent bids exceeded the Adjudicating Authority's jurisdiction. Appeal disposed; sale permitted.
NCLAT set aside the impugned Adjudicating Authority order and upheld the Committee of Creditors' approval of the sale of certain non-core, encumbered assets of the corporate debtor, holding that the CoC's decision to effect an outright transfer to related entities was a commercially rational choice within the exclusive domain of the CoC and thus non-justiciable except for compliance with the Code. The Tribunal held Regulation 29 does not prohibit a CoC-sanctioned sale where the secured creditors (who were CoC members) consented, and that Regulation 36A(1A) is inapplicable as it post-dates the CoC approval. Directions compelling separate RPs to invite independent bids exceeded the Adjudicating Authority's jurisdiction. Appeal disposed; sale permitted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
