Condonation of Delay denied: communication lapses and corporate restructuring found insufficient; prolonged inaction and lack of bona fides led to ref...
Export Support intervention INSIGHT launched to provide non financial capacity building, trade intelligence and pilot support with defined funding and...
Moratorium under Section 14(1) prevents initiation or continuation of statutory assessment proceedings during CIRP, and assessments completed in the moratorium cannot form admissible CIRP claims; claims founded on such assessments are unenforceable. Claims filed after Committee of Creditors approval of a resolution plan cannot be entertained as time-barred because allowing them would reopen the resolution process. The Resolution Professional did not breach disclosure obligations where EPFO proceedings were not notified within the claim period and were absent from the suspended management's litigation list. Consequent adverse findings against the RP are expunged and the EPFO claim admission set aside.
Moratorium under Section 14(1) prevents initiation or continuation of statutory assessment proceedings during CIRP, and assessments completed in the moratorium cannot form admissible CIRP claims; claims founded on such assessments are unenforceable. Claims filed after Committee of Creditors approval of a resolution plan cannot be entertained as time-barred because allowing them would reopen the resolution process. The Resolution Professional did not breach disclosure obligations where EPFO proceedings were not notified within the claim period and were absent from the suspended management's litigation list. Consequent adverse findings against the RP are expunged and the EPFO claim admission set aside.
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