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...
Prior appellate adjudication had already conclusively rejected inclusion of the foreign oil and gas assets in the CIRP of Videocon Industries Ltd, so the later order directing inclusion could not stand. The Tribunal also held that a holding company and its subsidiary remain separate legal persons, and that co-extensive guarantor liability does not permit importing a subsidiary's assets into the guarantor's CIRP. On the resolution plan challenge, it accepted that pre-existing contractual rights, including a right of first refusal, could be respected because an approved plan must be implementable and the Committee of Creditors could, in its commercial wisdom, pursue a feasible value-maximising structure. The order approving consummation of the BPRL transaction was upheld.
Prior appellate adjudication had already conclusively rejected inclusion of the foreign oil and gas assets in the CIRP of Videocon Industries Ltd, so the later order directing inclusion could not stand. The Tribunal also held that a holding company and its subsidiary remain separate legal persons, and that co-extensive guarantor liability does not permit importing a subsidiary's assets into the guarantor's CIRP. On the resolution plan challenge, it accepted that pre-existing contractual rights, including a right of first refusal, could be respected because an approved plan must be implementable and the Committee of Creditors could, in its commercial wisdom, pursue a feasible value-maximising structure. The order approving consummation of the BPRL transaction was upheld.
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