RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
The NCLAT held that, under the approved resolution plan and insolvency framework, the power to admit or re-determine claims vested in the resolution professional, not the successful resolution applicant, and the applicant's right to further verification had lapsed after the stipulated 60-day period. Admitted homebuyer claims supported by payment records, creditor-list inclusion and allotment documents could not be reopened belatedly to defeat implementation of the plan. The Tribunal set aside the direction for fresh scrutiny, ordered allotment of the flats and possession in terms of the allotment letters and builder-buyer agreements on payment of the differential amount, and directed IBBI inquiry into alleged fraud and systemic issues.
The NCLAT held that, under the approved resolution plan and insolvency framework, the power to admit or re-determine claims vested in the resolution professional, not the successful resolution applicant, and the applicant's right to further verification had lapsed after the stipulated 60-day period. Admitted homebuyer claims supported by payment records, creditor-list inclusion and allotment documents could not be reopened belatedly to defeat implementation of the plan. The Tribunal set aside the direction for fresh scrutiny, ordered allotment of the flats and possession in terms of the allotment letters and builder-buyer agreements on payment of the differential amount, and directed IBBI inquiry into alleged fraud and systemic issues.
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