PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
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NCLAT held that under Sec. 34(1) and 34(4)(c) IBC, only the CoC is competent to select a replacement resolution professional to act as liquidator, while the Adjudicating Authority (NCLT) has only the power to formally appoint the RP so selected, subject to Board confirmation under Sec. 27. The Adjudicating Authority cannot suo motu appoint a liquidator of its own choice. On facts, CoC's decision to appoint M/s Stress Credit Resolution Pvt. Ltd. as liquidator was upheld, subject to its recognition as RP and confirmation by the Board. Orders of NCLT, Indore Bench, were set aside and the appeal was allowed.
NCLAT held that under Sec. 34(1) and 34(4)(c) IBC, only the CoC is competent to select a replacement resolution professional to act as liquidator, while the Adjudicating Authority (NCLT) has only the power to formally appoint the RP so selected, subject to Board confirmation under Sec. 27. The Adjudicating Authority cannot suo motu appoint a liquidator of its own choice. On facts, CoC's decision to appoint M/s Stress Credit Resolution Pvt. Ltd. as liquidator was upheld, subject to its recognition as RP and confirmation by the Board. Orders of NCLT, Indore Bench, were set aside and the appeal was allowed.
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