Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Goods Transport Agency services via e commerce portals: consignment note creates custody and liability and enables exemption for unregistered recipien...
A resolution plan that expressly addresses insolvency resolution process (CIRP) costs makes those costs final and unassailable; however, where claimed CIRP costs were never placed before or approved by the committee of creditors as CIRP costs, those claims cannot be allowed. The tribunal examined merits and found the impugned related-party transaction approvals were for business continuity, not approvals of CIRP cost under the CIRP Regulations, so the adjudicating authority correctly rejected the application seeking payment. Consequently, the appeals challenging that rejection were dismissed for lack of merit.
A resolution plan that expressly addresses insolvency resolution process (CIRP) costs makes those costs final and unassailable; however, where claimed CIRP costs were never placed before or approved by the committee of creditors as CIRP costs, those claims cannot be allowed. The tribunal examined merits and found the impugned related-party transaction approvals were for business continuity, not approvals of CIRP cost under the CIRP Regulations, so the adjudicating authority correctly rejected the application seeking payment. Consequently, the appeals challenging that rejection were dismissed for lack of merit.
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