NCLT Mumbai ruling in CP(IB) No. 21/MB-IV/2023 establishes that a Real Estate Project becoming a Decree Holder under RERA remains a creditor in the Home Buyers class.
Learn about the denial of Input Tax Credit (ITC) to recipients without conducting a proper investigation of suppliers. Analysis of a High Court case on ITC reversal.
Explore the intricacies of admitting time-barred claims under IBC Section 18(1)(b). Uncover the duty of the Insolvency Resolution Professional (IRP), the impact of Section 238A, and the definition of claims under the Code. Delve into the committee report’s insights on the applicability of the Limitation Act and the challenges posed by time-barred debts. Gain clarity on the admission of claims barred by limitation and the implications on the Corporate Insolvency Resolution Process.
Navigate GST on legal services with clarity! Explore exemptions, tax liabilities under Forward and Reverse Charge Mechanism, and GST registration requirements. This comprehensive guide breaks down legal services’ taxability, defines key terms, and provides insights for advocates and businesses. Stay informed and ensure compliance in the complex landscape of GST on legal services.
Explore the NCLT Delhi judgment in Ajit Kaur Gill vs. Raheja Developers case, a detailed analysis of the operational debt dispute, and why the claim was dismissed.
Supreme Court, in the present Supertech Ltd matter, adopted lower risk of injustice even if ultimately in the aforesaid appeals, the Hon’ble Supreme Court may find otherwise or choose any other course.
Explore the case of Motel Rahans Pvt. Ltd. Vs JSM Devcons Pvt Ltd., where a secured financial creditor approached NCLT Indore Bench seeking a forensic audit of the Corporate Debtor. Learn about the scope of consideration by the Committee of Creditors (CoC) in appointing professionals, the role of the Resolution Professional, and the direction given by the court for a forensic audit. Understand the implications of the court’s decision and the limited role of CoC in approving fees for auditors.
In case of Foreign Direct Investment, the valuation of equity instruments should be done as per any internationally accepted pricing methodology for valuation on an arm’s length basis duly certified by a Chartered Accountant or a Merchant Banker registered with the Securities and Exchange Board of India or a practicing Cost Accountant, in case of an unlisted Indian Company.
Understand the concept of Authorised Representative (AR) in Corporate Insolvency Resolution Process (CIRP). Learn about the duties, criteria, and selection process for AR, ensuring effective representation of creditors in COC meetings. Explore the role of the Interim Resolution Professional (IRP) in ascertaining the class of creditors and facilitating the appointment of AR in compliance with the Insolvency and Bankruptcy Code, 2016.
Explore an IBC case study on the breach of moratorium. Understand the legal implications, actions taken by NCLT, and the responsibilities of an Interim Resolution Professional. Get insights into sections 17 and 18 of the Insolvency and Bankruptcy Code, 2016. Stay informed on corporate insolvency resolution process intricacies.
