Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
Allowability of Salary Exemptions: Form 16 entries can substantiate HRA and other salary exemptions, and home loan interest is deductible for a self-o...
Capital gains exemption: payment for plot, architect fees and bona fide commencement of construction can satisfy utilisation requirement and secure re...
Interpretation of the term "existing management" in an approved resolution plan was central to deciding whether a pending civil suit for mesne profits could continue against the corporate debtor under new management. The court held that "existing management" referred to the management immediately prior to takeover, and the resolution plan permitted continuation only to determine monetary liability recoverable, if any, from the erstwhile management, not from the corporate debtor/new management. Since an approved plan under s. 31(1) IBC freezes and extinguishes all claims not provided for, the suit was barred against the corporate debtor/new management; it could proceed only against the erstwhile management if steps were taken within a fortnight, failing which it would be treated as disposed. - HC
Interpretation of the term "existing management" in an approved resolution plan was central to deciding whether a pending civil suit for mesne profits could continue against the corporate debtor under new management. The court held that "existing management" referred to the management immediately prior to takeover, and the resolution plan permitted continuation only to determine monetary liability recoverable, if any, from the erstwhile management, not from the corporate debtor/new management. Since an approved plan under s. 31(1) IBC freezes and extinguishes all claims not provided for, the suit was barred against the corporate debtor/new management; it could proceed only against the erstwhile management if steps were taken within a fortnight, failing which it would be treated as disposed. - HC
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