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.
Explore an IBC case study on the consequences of a delay in the appointment of valuers. Understand the legal violations, impact on the Corporate Insolvency Resolution Process (CIRP), and implications for the Resolution Professional (RP). Stay informed on Insolvency and Bankruptcy Code intricacies.
Explore the necessity of Committee of Creditors approval for the appointment of Transaction/Forensic Auditor under Section 18 of the Insolvency and Bankruptcy Code, 2016. Understand the role of Forensic Auditors in identifying PUFE Transactions and ensuring compliance with IBC regulations.
Explore the significance of the confidentiality undertaking for the Information Memorandum in corporate insolvency resolution. Learn about the legal framework, sample undertaking, and its implications.
Discover the jurisdiction of officers of Central Tax under GST, including their appointment, powers, and territorial jurisdiction outlined in the CGST Act, 2017.
SCN is vague and cryptic in nature and order in original has been passed beyond the scope of SCN, both are liable to be quashed and set aside.
