Classification of imported goods as electronic cigarette versus tobacco product reversed for lack of proof; order set aside for jurisdictional overrea...
Reversal of input tax credit in proportion to exempt supply: specificity of show-cause notice required; order set aside, fresh proceedings allowed wit...
Induction of a strategic investor into a bidding consortium under Regulation 39(1B) was held compliant where the consortium disclosed the investor in a revised plan, the resolution professional performed eligibility and Section 29A checks, a consortium agreement existed, revised plans were circulated and e voting occurred; the induction was not a surreptitious circumvention and related RFRP contractual modification was permissible, so the contrary finding was set aside. The alleged material irregularity for delayed circulation to erstwhile directors failed on the documented chronology and e voting opportunity. The CoC's unanimous commercial choice was treated as within its commercial wisdom and not for substitution by the adjudicatory forum.
Induction of a strategic investor into a bidding consortium under Regulation 39(1B) was held compliant where the consortium disclosed the investor in a revised plan, the resolution professional performed eligibility and Section 29A checks, a consortium agreement existed, revised plans were circulated and e voting occurred; the induction was not a surreptitious circumvention and related RFRP contractual modification was permissible, so the contrary finding was set aside. The alleged material irregularity for delayed circulation to erstwhile directors failed on the documented chronology and e voting opportunity. The CoC's unanimous commercial choice was treated as within its commercial wisdom and not for substitution by the adjudicatory forum.
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