Allocation of enhanced FSI/TDR proceeds between cooperative society and individual flat-owners; tribunal deletes society LTCG addition, remits 80P ver...
Electronic Postal Bill of Export templates mandating specified data fields for postal export declarations; system-generated Let Export Order on public...
Shareholders challenged a CIRP admission, raising locus standi and alleging fraudulent initiation by related parties. Interpreting s.61 IBC broadly, "any person aggrieved" includes shareholders affected by the AA's order; the appeal was held maintainable. On merits, the s.7 admission was found mechanical and lacking scrutiny of undisputed related-party links, common management, and AGM rejection of related-party transactions; delayed stock-exchange disclosure under SEBI LODR further supported collusion. The s.7 filing was held a collusive device for an ulterior purpose rather than genuine resolution, warranting intervention. CIRP was set aside, costs of ₹25 lakhs imposed on the financial creditor, and the matter referred to IBBI regarding the RP's conduct. - NCLAT
Shareholders challenged a CIRP admission, raising locus standi and alleging fraudulent initiation by related parties. Interpreting s.61 IBC broadly, "any person aggrieved" includes shareholders affected by the AA's order; the appeal was held maintainable. On merits, the s.7 admission was found mechanical and lacking scrutiny of undisputed related-party links, common management, and AGM rejection of related-party transactions; delayed stock-exchange disclosure under SEBI LODR further supported collusion. The s.7 filing was held a collusive device for an ulterior purpose rather than genuine resolution, warranting intervention. CIRP was set aside, costs of ₹25 lakhs imposed on the financial creditor, and the matter referred to IBBI regarding the RP's conduct. - NCLAT
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