Opportunity to respond to jurisdictional reports is mandatory before customs settlement duty enhancement; connected applications require consistent ad...
Specific customs headings for scaffolding components prevail over general classification, invalidating misclassification proceedings and enabling with...
Liquidator appointment under Section 34 requires consideration of creditor recommendations, valid professional authorisation, and preservation of vali...
Income-tax exemption for specified regulatory fees and government grants applies subject to non-commercial activity and continuing compliance conditio...
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The NCLAT rejected the promoter's revised settlement proposal for Project Estella because the CIRP had already revived, a CoC-approved resolution plan was pending before the Adjudicating Authority, prior proposals had been rejected, and the homebuyers had voted against considering the promoter's bid. The promoter's reliance on an arrangement with BCD Mumbai Pvt. Ltd. was treated as non-binding and insufficient to show project completion. For Project NCR Greens, the Tribunal recognised the promoter's obligation to complete the substantially finished project, remove defects and hand over remaining units within six months, subject to majority approval of the financial creditors including Punjab & Sind Bank; failing such approval, insolvency directions would follow.
The NCLAT rejected the promoter's revised settlement proposal for Project Estella because the CIRP had already revived, a CoC-approved resolution plan was pending before the Adjudicating Authority, prior proposals had been rejected, and the homebuyers had voted against considering the promoter's bid. The promoter's reliance on an arrangement with BCD Mumbai Pvt. Ltd. was treated as non-binding and insufficient to show project completion. For Project NCR Greens, the Tribunal recognised the promoter's obligation to complete the substantially finished project, remove defects and hand over remaining units within six months, subject to majority approval of the financial creditors including Punjab & Sind Bank; failing such approval, insolvency directions would follow.
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