Contractual tolerance requires consideration; breach recoveries, qualifying public infrastructure services and road works escape service tax liability...
Personal hearing requirements in GST adjudication were satisfied by prior opportunities and written submissions; appellate limitation received writ-pe...
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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