Customs transaction value rejection requires communicated reasonable doubt, while written reassessment acceptance preserves challenges to enhanced val...
Challenge-mechanism compliance clarifications permitted, while unilateral revised resolution plans may be refused under creditors' commercial discreti...
Section 33(1)(a) requires liquidation when the CIRP expires without a resolution plan submitted under Section 30(6) or a valid extension. This consequence operates independently of liquidation initiated through a Committee of Creditors resolution under Section 33(2); failure of that separate proposal to receive the required vote does not prevent liquidation. The Committee's commercial wisdom remains subject to statutory CIRP timelines and cannot revive an expired process. Post-expiry directions, later expressions of interest, and MSME eligibility cannot replace a resolution plan submitted and processed within the prescribed period.
Section 33(1)(a) requires liquidation when the CIRP expires without a resolution plan submitted under Section 30(6) or a valid extension. This consequence operates independently of liquidation initiated through a Committee of Creditors resolution under Section 33(2); failure of that separate proposal to receive the required vote does not prevent liquidation. The Committee's commercial wisdom remains subject to statutory CIRP timelines and cannot revive an expired process. Post-expiry directions, later expressions of interest, and MSME eligibility cannot replace a resolution plan submitted and processed within the prescribed period.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4910 
