Religious purpose exclusion versus charitable purpose: non overriding religious objects do not attract Explanation 3, registration directed under sect...
Search-assessment proviso jurisdiction, time-barred valuation reports, and denial of cross-examination vitiate valuation-based and confession-based ad...
Regulation 12A requires a creditor to update its claim when the claim is satisfied, partly or fully, and such updation includes withdrawal where satisfaction leaves no remaining claim; accordingly a satisfied creditor ceases to have voting interest. The IRP/RP has an ongoing administrative duty to verify, collate and update claims but lacks adjudicatory power to finally allow or disallow withdrawal; that competence rests exclusively with the Adjudicating Authority. The impugned dismissal of the IRP's application was set aside and the matter remitted for fresh adjudication of the withdrawal/updation request and attendant issues, with questions on Section 14 and CIRP costs left open.
Regulation 12A requires a creditor to update its claim when the claim is satisfied, partly or fully, and such updation includes withdrawal where satisfaction leaves no remaining claim; accordingly a satisfied creditor ceases to have voting interest. The IRP/RP has an ongoing administrative duty to verify, collate and update claims but lacks adjudicatory power to finally allow or disallow withdrawal; that competence rests exclusively with the Adjudicating Authority. The impugned dismissal of the IRP's application was set aside and the matter remitted for fresh adjudication of the withdrawal/updation request and attendant issues, with questions on Section 14 and CIRP costs left open.
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