Natural justice in insolvency-professional discipline requires disclosed material; notices based on extraneous material and ignored defences are vitia...
Development rights transfers treated as immovable property, while construction abatement applies and repeated non-payment permits extended service-tax...
Income Disclosure Scheme immunity and search-material requirements barred further share-transaction additions in unabated assessments under section 15...
NCLAT held that Regulation 39(1B)(b) does not bar consideration of a resolution plan merely because an additional member is inducted into an already shortlisted consortium, since a consortium is not treated as a new "person" under Section 3(23). The tribunal found no evidence that the plan was belated or that the inducted member was ineligible under Section 29A, and noted that the induction could improve the consortium's financial viability and value for the corporate debtor. As evaluation and negotiation of resolution plans lie within the CoC's commercial wisdom, and no statutory prohibition was shown, the challenge to the plan's consideration was rejected and the order upheld.
NCLAT held that Regulation 39(1B)(b) does not bar consideration of a resolution plan merely because an additional member is inducted into an already shortlisted consortium, since a consortium is not treated as a new "person" under Section 3(23). The tribunal found no evidence that the plan was belated or that the inducted member was ineligible under Section 29A, and noted that the induction could improve the consortium's financial viability and value for the corporate debtor. As evaluation and negotiation of resolution plans lie within the CoC's commercial wisdom, and no statutory prohibition was shown, the challenge to the plan's consideration was rejected and the order upheld.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
