Effective service requirement: officers must explore alternative service modes beyond the GST portal and afford personal hearing; non-compliance voids...
Permanent Establishment and Business Connection: foreign consultancy receipts not attributable where no fixed base or corporate veil piercing establis...
A purposive, see-through construction of Section 29A was applied to assess resolution applicant eligibility, focusing on de facto control, cross-shareholdings, post-resolution asset transfers and retained promoter involvement; on that legal basis the applicant was held disqualified under clause (c) and, on the facts and purposive assessment, clause (j), rendering it ineligible. The Tribunal found deficiencies in CoC/RP material and reasoning and identified a duty on the RP under Regulation 36A to verify eligibility. The Tribunal declined to recall its earlier direction to resume the CIRP from issuance of a fresh Form G and directed continuation while IBBI conducts an independent inquiry into procedural and disclosure issues.
A purposive, see-through construction of Section 29A was applied to assess resolution applicant eligibility, focusing on de facto control, cross-shareholdings, post-resolution asset transfers and retained promoter involvement; on that legal basis the applicant was held disqualified under clause (c) and, on the facts and purposive assessment, clause (j), rendering it ineligible. The Tribunal found deficiencies in CoC/RP material and reasoning and identified a duty on the RP under Regulation 36A to verify eligibility. The Tribunal declined to recall its earlier direction to resume the CIRP from issuance of a fresh Form G and directed continuation while IBBI conducts an independent inquiry into procedural and disclosure issues.
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