Transfer-pricing aggregation of distinct support-service and subcontract transactions was rejected, while debt-free receivables attracted no notional ...
Customs exemptions cover photovoltaic assembly machinery and PVF backsheets, while fully declared cleared imports may avoid confiscation and penalties...
Specific tariff classification for LCD devices overrides treatment as electricity-meter parts, defeating differential duty, extended limitation, and p...
Stayed disciplinary punishment does not establish unfitness for insolvency professional registration; reconsideration must disregard mere pendency of ...
Indirect corporate control can create related-party status, excluding financial creditors from Committee of Creditors representation, participation an...
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NCLAT upheld the NCLT's refusal to admit a fresh Section 7 application filed by a financial creditor (a banking institution) against the corporate debtor, noting that CIRP had already commenced and was ongoing pursuant to earlier orders, including project-wise CIRP directions for the real estate entity. The Appellate Tribunal found no legal infirmity or jurisdictional error warranting interference with the impugned order. However, it clarified that the applicant may pursue reliefs sought in the pending interlocutory application. NCLAT further recorded that, consistent with the amended CIRP Regulations, the Resolution Professional is at liberty to continue project-wise resolution for the unfinished project in which the applicant claims financial creditor status, including issuance of Information Memorandum and Form G.
NCLAT upheld the NCLT's refusal to admit a fresh Section 7 application filed by a financial creditor (a banking institution) against the corporate debtor, noting that CIRP had already commenced and was ongoing pursuant to earlier orders, including project-wise CIRP directions for the real estate entity. The Appellate Tribunal found no legal infirmity or jurisdictional error warranting interference with the impugned order. However, it clarified that the applicant may pursue reliefs sought in the pending interlocutory application. NCLAT further recorded that, consistent with the amended CIRP Regulations, the Resolution Professional is at liberty to continue project-wise resolution for the unfinished project in which the applicant claims financial creditor status, including issuance of Information Memorandum and Form G.
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