Tax determination against deceased proprietor invalid where no notice to legal representative; appeal rejected without addressing jurisdictional defec...
Revocation of GST registration and permission to file blocked returns; conditional defreezing of bank accounts after security and instalment applicati...
Right to access seized electronic evidence: impugned adjudication treated as additional show cause notice, remand for fresh hearing and return of mate...
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The Resolution Plan provides employee payments equal to the higher of twelve months' entitlement or the percentage payable to unsecured financial creditors; the Tribunal found the earmarked sum yields a payout to employees that exceeds the unsecured creditors' percentage, complying with the court-recorded undertaking, and thus no breach was found. The Tribunal further held that, because admitted liquidation value left operational creditors with nil recovery and the plan earmarks sums for employees, the plan meets the statutory floor for operational creditors and the Adjudicating Authority's approval is upheld and the appeal dismissed.
The Resolution Plan provides employee payments equal to the higher of twelve months' entitlement or the percentage payable to unsecured financial creditors; the Tribunal found the earmarked sum yields a payout to employees that exceeds the unsecured creditors' percentage, complying with the court-recorded undertaking, and thus no breach was found. The Tribunal further held that, because admitted liquidation value left operational creditors with nil recovery and the plan earmarks sums for employees, the plan meets the statutory floor for operational creditors and the Adjudicating Authority's approval is upheld and the appeal dismissed.
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