Concessional Basic Customs Duty on Ethernet switches: classification as enterprise switches upheld, challenge dismissed for lack of substantial law qu...
Insolvency petition based on admitted debt and default upheld; challenge for malicious initiation rejected, settlement may proceed under resolution fr...
Quashing of FIR and challenge to ECIR over alleged diversion of funds and preferential ESOP pricing dismissed after prima facie money-laundering findi...
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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