Appointment of Registrars as adjudicating officers under Companies Act reallocates territorial jurisdiction and sets appeal route to Regional Director...
Composite supply of drilling services and site specific chemicals characterised as composite supply; prior advance rulings set aside, tax rate left op...
Cross country pipeline classification and ITC entitlement: pipelines outside factory treated as immovable, ITC disallowed under Section 17 restriction...
An approved resolution plan has binding effect to extinguish admitted debt and related securities, preventing dissenting financial creditors from continuing enforcement or recovery; where the plan resolves the claim, pre-existing attachments and third party securities cease to provide a basis for recovery. The tribunal found that attachments under the Maharashtra Cooperative Societies Act made to recover dues consequent to the financial creditor's claim are released by the plan's operative clause and cannot be relied upon post approval. Repeated objections by a dissenting creditor were held untenable in light of earlier appellate finality; the appeal was allowed, restraining further enforcement contrary to the plan.
An approved resolution plan has binding effect to extinguish admitted debt and related securities, preventing dissenting financial creditors from continuing enforcement or recovery; where the plan resolves the claim, pre-existing attachments and third party securities cease to provide a basis for recovery. The tribunal found that attachments under the Maharashtra Cooperative Societies Act made to recover dues consequent to the financial creditor's claim are released by the plan's operative clause and cannot be relied upon post approval. Repeated objections by a dissenting creditor were held untenable in light of earlier appellate finality; the appeal was allowed, restraining further enforcement contrary to the plan.
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