Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
In a CIRP concerning a mixed-use real estate project, the dominant issue was whether extraordinary powers could be invoked to ensure an equitable resolution among competing stakeholders, particularly protecting homebuyers, where the ordinary CIRP architecture was viewed as inadequate to secure balanced outcomes. The Court accepted the amicus recommendations and stakeholder responses indicating broad confidence in a court-monitored mechanism, and held that the case warranted exercise of Article 142 to "do complete justice" while maintaining fidelity to IBC objectives. Consequently, it directed a court-appointed committee with judicial oversight to ensure continuity of the resolution process and safeguard homebuyers' rights. - SC
In a CIRP concerning a mixed-use real estate project, the dominant issue was whether extraordinary powers could be invoked to ensure an equitable resolution among competing stakeholders, particularly protecting homebuyers, where the ordinary CIRP architecture was viewed as inadequate to secure balanced outcomes. The Court accepted the amicus recommendations and stakeholder responses indicating broad confidence in a court-monitored mechanism, and held that the case warranted exercise of Article 142 to "do complete justice" while maintaining fidelity to IBC objectives. Consequently, it directed a court-appointed committee with judicial oversight to ensure continuity of the resolution process and safeguard homebuyers' rights. - SC
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