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 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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