International transaction characterisation of domestic divestment of support services business rejected; transaction between resident associated enter...
Minimum Import Price restrictions for Black Pepper, Areca-nuts and Apples upheld; procedural laying failure not fatal, notifications to be placed befo...
Transaction value between related persons requires market-equivalent pricing; importer must prove declared value mirrors ordinary international trade ...
Classification of exported insecticides under export tariff affirmed; reclassification and related penalties set aside and MEIS scrip jurisdiction rec...
IBBI specifies mandatory formats under Regulation 38(3A) of the CIRP Regulations for inclusion in every resolution plan: (i) a "Statement of Beneficial Ownership" capturing prescribed particulars for each beneficial owner, with beneficial ownership determined under Rule 9(3) of the PMLA (Maintenance of Records) Rules, 2005 and requiring disclosure of intermediate entities; this standardises beneficial ownership disclosures and supports verification, with misrepresentation attracting consequences under applicable law. (ii) A notarised affidavit by the prospective resolution applicant's authorised signatory declaring eligibility or ineligibility for Section 32A benefit, with brief supporting facts; this compels an express Section 32A status declaration. The resolution professional must ensure both documents form part of the plan placed before the CoC and filed under Section 30(6).
IBBI specifies mandatory formats under Regulation 38(3A) of the CIRP Regulations for inclusion in every resolution plan: (i) a "Statement of Beneficial Ownership" capturing prescribed particulars for each beneficial owner, with beneficial ownership determined under Rule 9(3) of the PMLA (Maintenance of Records) Rules, 2005 and requiring disclosure of intermediate entities; this standardises beneficial ownership disclosures and supports verification, with misrepresentation attracting consequences under applicable law. (ii) A notarised affidavit by the prospective resolution applicant's authorised signatory declaring eligibility or ineligibility for Section 32A benefit, with brief supporting facts; this compels an express Section 32A status declaration. The resolution professional must ensure both documents form part of the plan placed before the CoC and filed under Section 30(6).
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