Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
NCLAT examined allegations of collusion between CoC, RP and an entrant in condoning delay in submission of EoI and alleged concealment from other PRAs, claimed as material irregularity under the CIRP Regulations. NCLAT held that not every procedural breach under the Regulations constitutes "material irregularity"; the test is whether the deviation results in an outcome that is plainly illegal or so unfair as to undermine the integrity of the CIRP. Treating the Regulations as facilitative, the Tribunal found that the alleged violations, even if assumed, did not attain the threshold of material irregularity warranting invalidation of the resolution process. Accordingly, NCLAT set aside the order of the Adjudicating Authority and allowed the appeal, upholding the challenged resolution approval.
NCLAT examined allegations of collusion between CoC, RP and an entrant in condoning delay in submission of EoI and alleged concealment from other PRAs, claimed as material irregularity under the CIRP Regulations. NCLAT held that not every procedural breach under the Regulations constitutes "material irregularity"; the test is whether the deviation results in an outcome that is plainly illegal or so unfair as to undermine the integrity of the CIRP. Treating the Regulations as facilitative, the Tribunal found that the alleged violations, even if assumed, did not attain the threshold of material irregularity warranting invalidation of the resolution process. Accordingly, NCLAT set aside the order of the Adjudicating Authority and allowed the appeal, upholding the challenged resolution approval.
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