Home Highlights June 2013 Year 2013 This

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1. Recovery proceedings of tax dues - preferential right - secured creditors - Income Tax Department’s preferential right to recovery of debts over other creditors is...

2. Recovery of tax dues - Attachment of assets - dues of MVAT Authorities’ have charge in priority to the secured creditors or not - This judgment reaffirms the supremacy...

3. Financial creditor versus Operational creditor - different treatment - right to be in the Committee of Creditors (COC) - The rationale of giving a particular treatment...

4. Challenge to DRT order allowing sale of mortgaged property below reserve price. Unsecured creditor treated as secured creditor, prioritized over original secured...

5. Interpretation of Regulation 21A of IBBI (Liquidation Process) Regulations, 2016 regarding secured creditor's obligation to realize security interest within stipulated...

6. Seeking to quash the demand notice for arrears of unpaid electricity charges, the court examined the scope of the Insolvency and Bankruptcy Code (IBC) and the potential...

7. Claim of secured creditor - right on the basis of the pledged shares - appellants not having advanced any money to the Corporate Debtor - The appellant no.1 – M/s....

8. The NCLAT upheld the admission of the Section 7 application filed by the Financial Creditor (Respondent No.1) for initiating CIRP against the Corporate Debtor. It held...

9. CIRP initiated against the Corporate Debtor terminated upon reaching full and final settlement with the Operational Creditor who filed Section 7 application. Quantum of...

10. Exemption u/s 54F - Assessee given advance for purchase of land in the year 2005 and accordingly acquired right for specific performance of agreement of sale - The said...

11. Recovery of dues against customs duty - Preferential right of secured creditors over hypothecated movable property - The provision of Section 142A of the Customs Act,...

12. Scheme of Amalgamation - directed to hold separate meetings of the Un-Secured Creditors of the Transferor Company and Secured Creditors and Un-Secured Creditors of the...

13. Challenge to an approved Resolution Plan where no consideration was given to payment to an Operational Creditor. The key points are: Section 30(2)(b) mandates that...

14. The ITAT Kolkata held that the addition on a protective basis made by the Assessing Officer in the hands of the assessee, concerning a loan received from a director and...

15. Power of RP to admit the Claims suo-motu - There is no such provision that the IRP shall admit the Claim without filing a Claim either in Form-B or in Form-C. - the IRP...