https://www.taxtmi.com/caselaws?id=402556 The Tribunal approved the proposal for the dissolution of IIPL USA, an offshore entity of IL&FS, as the best resolution option. The new Board, under the supervision of Hon'ble Justice D. K. Jain (Retd.), recommended winding up non-operational entities as part of the Resolution Framework. The proposal for IIPL USA's closure was endorsed by relevant boards and Justice Jain, with the Tribunal granting exemption from certain procedural formalities for initiating the dissolution process in compliance with US laws. en-us Mon, 04 Jan 2021 00:00:00 +0530 Wed, 06 Jan 2021 14:12:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402556 The Tribunal approved the proposal for the dissolution of IIPL USA, an offshore entity of IL&FS, as the best resolution option. The new Board, under the supervision of Hon'ble Justice D. K. Jain (Retd.), recommended winding up non-operational entities as part of the Resolution Framework. The proposal for IIPL USA's closure was endorsed by relevant boards and Justice Jain, with the Tribunal granting exemption from certain procedural formalities for initiating the dissolution process in compliance with US laws. Case-Laws Companies Law Mon, 04 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402556