Cash routed to non-existent firm deemed proceeds of crime; laundered funds and properties attachable, provisional attachments confirmed; two accounts ...
Continuation of Section 73 service-tax proceedings after provider's death (construing s.65(7)) - held to abate; posthumous OIO and recoveries invalida...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
