Invoice-based recovery claims remain time-barred despite separate winding-up proceedings, absent valid acknowledgment or part-payment of the disputed ...
Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
A resolution plan was rejected because material non-compliances in the CIRP, including inadequate disclosure of avoidance/PUFE transactions, non-transparent handling of those proceedings, and lapses in performance security, undermined the fairness of the process. The Appellate Tribunal held that the Committee of Creditors' commercial wisdom could not cure defects where other applicants were deprived of material information and the plan proceeded on incomplete disclosure. It also upheld adverse findings against the erstwhile resolution professional, noting unsatisfactory explanations for failures in dealing with avoidance applications and security compliance. Both appeals were dismissed, and the direction to investigate the resolution professional's conduct was maintained.
A resolution plan was rejected because material non-compliances in the CIRP, including inadequate disclosure of avoidance/PUFE transactions, non-transparent handling of those proceedings, and lapses in performance security, undermined the fairness of the process. The Appellate Tribunal held that the Committee of Creditors' commercial wisdom could not cure defects where other applicants were deprived of material information and the plan proceeded on incomplete disclosure. It also upheld adverse findings against the erstwhile resolution professional, noting unsatisfactory explanations for failures in dealing with avoidance applications and security compliance. Both appeals were dismissed, and the direction to investigate the resolution professional's conduct was maintained.
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