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...
Submission of a repayment plan under the personal guarantor insolvency framework is mandatory, and one-time settlement proposals cannot replace it. Because the personal guarantors admittedly failed to submit any repayment plan despite opportunity, the Tribunal treated the plan as deemed rejected and upheld the creditor's move to initiate bankruptcy under the Code. Co-extensive liability under the guarantee deed was recognised, and objections about dues calculation, earlier settlement efforts, and prior SARFAESI or insolvency events did not defeat the bankruptcy process at this stage. The Tribunal affirmed the maintainability of the bankruptcy applications and sustained initiation of proceedings against the guarantors.
Submission of a repayment plan under the personal guarantor insolvency framework is mandatory, and one-time settlement proposals cannot replace it. Because the personal guarantors admittedly failed to submit any repayment plan despite opportunity, the Tribunal treated the plan as deemed rejected and upheld the creditor's move to initiate bankruptcy under the Code. Co-extensive liability under the guarantee deed was recognised, and objections about dues calculation, earlier settlement efforts, and prior SARFAESI or insolvency events did not defeat the bankruptcy process at this stage. The Tribunal affirmed the maintainability of the bankruptcy applications and sustained initiation of proceedings against the guarantors.
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