Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
An operational creditor that submitted a resolution plan and exercised voting rights to approve its own plan breached the statutory prohibition on interested parties voting, creating a conflict of interest and applying nemo judex in causa sua to find the CoC decision void for material irregularity; the approval was vitiated for violating principles of natural justice. The Resolution Professional failed in its duty to flag the conflict and statutory bar, warranting IBBI notice and remedial action. Because the statutory framework does not accommodate this situation, the Tribunal found the plan invalid and concluded liquidation is the only viable outcome for the corporate debtor.
An operational creditor that submitted a resolution plan and exercised voting rights to approve its own plan breached the statutory prohibition on interested parties voting, creating a conflict of interest and applying nemo judex in causa sua to find the CoC decision void for material irregularity; the approval was vitiated for violating principles of natural justice. The Resolution Professional failed in its duty to flag the conflict and statutory bar, warranting IBBI notice and remedial action. Because the statutory framework does not accommodate this situation, the Tribunal found the plan invalid and concluded liquidation is the only viable outcome for the corporate debtor.
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