Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
Section 32A of the IBC was applied to determine whether...
IBC resolution plan immunity from money-laundering: corporate debtor removed as accused; cases continue against ex-directors, attached assets refunded.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Section 32A of the IBC was applied to determine whether money-laundering proceedings could continue against a corporate debtor whose resolution plan had been approved and substantially implemented. Since the statutory immunity attaches post-resolution, the corporate debtor was directed to be deleted from the array of accused, while prosecution could continue against erstwhile directors/persons in control and other conspirators/abettors, including confiscation of their own attached assets, if any. The protection was made conditional on the successful resolution applicant being unconnected with prior management and not a beneficiary of proceeds of crime; if investigation undermines this foundation, the enforcement agency may proceed in accordance with law, including questioning the resolution plan. The enforcement agency's challenge to plan approval was closed; it was held to have no right or lien over assets forming part of the approved plan, and deposits were ordered to be refunded with interest. - SC
Section 32A of the IBC was applied to determine whether money-laundering proceedings could continue against a corporate debtor whose resolution plan had been approved and substantially implemented. Since the statutory immunity attaches post-resolution, the corporate debtor was directed to be deleted from the array of accused, while prosecution could continue against erstwhile directors/persons in control and other conspirators/abettors, including confiscation of their own attached assets, if any. The protection was made conditional on the successful resolution applicant being unconnected with prior management and not a beneficiary of proceeds of crime; if investigation undermines this foundation, the enforcement agency may proceed in accordance with law, including questioning the resolution plan. The enforcement agency's challenge to plan approval was closed; it was held to have no right or lien over assets forming part of the approved plan, and deposits were ordered to be refunded with interest. - SC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4786
Join Channel
TaxTMI 
