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...
The NCLAT upheld approval of the resolution plan, applying limited judicial review and the CoC's commercial wisdom because no breach of Section 30(2) or material procedural irregularity was shown. Objections on CIRP costs failed since the plan treated unpaid costs as payable at actuals and, in any event, the issue had become academic after implementation. The EPF treatment was sustained because the plan set aside funds from secured creditors' share for a contingent statutory liability, causing no prejudice to the dissenting creditor. The extension of the e-voting window, clarificatory communications, and rejection of a Swiss Challenge were also held permissible, and the appeals were dismissed.
The NCLAT upheld approval of the resolution plan, applying limited judicial review and the CoC's commercial wisdom because no breach of Section 30(2) or material procedural irregularity was shown. Objections on CIRP costs failed since the plan treated unpaid costs as payable at actuals and, in any event, the issue had become academic after implementation. The EPF treatment was sustained because the plan set aside funds from secured creditors' share for a contingent statutory liability, causing no prejudice to the dissenting creditor. The extension of the e-voting window, clarificatory communications, and rejection of a Swiss Challenge were also held permissible, and the appeals were dismissed.
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