Imported analyser diagnostic cartridges treated as accessories with analyser system, not standalone diagnostic reagents; extended limitation and penal...
Steel-timber construction shuttering/formwork tariff classification dispute: essential character held steel, classified as shuttering under Heading 73...
Family-linked property purchases using fabricated loan agreements and benami-style arrangements held to be crime proceeds; attachment upheld, appeal d...
NCLAT upheld the Adjudicating Authority's refusal to grant the Liquidator's claimed remuneration under Regulation 4(2)(b) of the IBBI (Liquidation Process) Regulations, 2016. It held that the Liquidator's fee, being percentage-based on assets realised or distributed net of liquidation costs, was not payable as no assets were realised or distributed during the liquidation period. The Tribunal further noted that neither the CoC, at the time of recommending liquidation, nor the SCC subsequently, had fixed or approved any separate fee for the present Liquidator. Consequently, the Liquidator's application seeking a fixed fee of Rs. 2.5 lakhs per month was rejected as untenable, and the appeal was dismissed.
NCLAT upheld the Adjudicating Authority's refusal to grant the Liquidator's claimed remuneration under Regulation 4(2)(b) of the IBBI (Liquidation Process) Regulations, 2016. It held that the Liquidator's fee, being percentage-based on assets realised or distributed net of liquidation costs, was not payable as no assets were realised or distributed during the liquidation period. The Tribunal further noted that neither the CoC, at the time of recommending liquidation, nor the SCC subsequently, had fixed or approved any separate fee for the present Liquidator. Consequently, the Liquidator's application seeking a fixed fee of Rs. 2.5 lakhs per month was rejected as untenable, and the appeal was dismissed.
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