Revisional power in block assessment upheld, undisclosed search income sustained, freight suppression addition restored, accrued lorry hire liability ...
Reassessment and fee-for-technical-services classification: reopening upheld, but certain reimbursements and mobilization charges fell outside treaty ...
Page of 4805
Press 'Enter' after typing page number.
4361 to 4380 of 96100 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
NCLAT held that a shareholder had no locus to reopen concluded insolvency proceedings or to agitate the corporate debtor's grievance after approval and implementation of the resolution plan. It found that repeated challenges based on the same memorandum of understanding and alleged fraud had already been rejected through prior proceedings, including appellate and Supreme Court scrutiny, and that the later application was a belated, suppressed and de novo attempt to relitigate settled issues. The Tribunal also held that NCLT's inherent powers could not be used to compel criminal action in a civil insolvency forum. The appeal was dismissed with costs for abuse of process.
NCLAT held that a shareholder had no locus to reopen concluded insolvency proceedings or to agitate the corporate debtor's grievance after approval and implementation of the resolution plan. It found that repeated challenges based on the same memorandum of understanding and alleged fraud had already been rejected through prior proceedings, including appellate and Supreme Court scrutiny, and that the later application was a belated, suppressed and de novo attempt to relitigate settled issues. The Tribunal also held that NCLT's inherent powers could not be used to compel criminal action in a civil insolvency forum. The appeal was dismissed with costs for abuse of process.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
