Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
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Insolvency professional agency governance rules amended to add nominee directors, tighten independent director eligibility, and regulate managing dire...
Tribunal recognised that sums due to workmen from provident, pension and gratuity funds are excluded from the liquidation estate, but held that where the liquidator had already applied all available assets to CIRP costs, liquidation costs and priority payments leaving no remaining assets, the EPFO's application for recovery could not be granted; strict enforcement of the exclusion could not defeat necessary insolvency and liquidation costs. The Tribunal also held that dissolution following completion of liquidation, final distributions and filing of Form H was in accordance with statutory dissolution rules and affirmed the Adjudicating Authority's dissolution order.
Tribunal recognised that sums due to workmen from provident, pension and gratuity funds are excluded from the liquidation estate, but held that where the liquidator had already applied all available assets to CIRP costs, liquidation costs and priority payments leaving no remaining assets, the EPFO's application for recovery could not be granted; strict enforcement of the exclusion could not defeat necessary insolvency and liquidation costs. The Tribunal also held that dissolution following completion of liquidation, final distributions and filing of Form H was in accordance with statutory dissolution rules and affirmed the Adjudicating Authority's dissolution order.
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