Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
IBC - Highlights / Catch Notes

Home Highlights November 2022 Year 2022 This

Validity of order of CoC rejecting the claim - Seeking to ...


CoC Denies Related Parties' Claim for Salary and TDS Payment Based on Commercial Wisdom in Corporate Debtor Case.

November 19, 2022

Case Laws     Insolvency and Bankruptcy     Tri

Validity of order of CoC rejecting the claim - Seeking to release the lawful dues of the Applicant and credit/make payment of TDS - Related party - Applicants had considerable control over the management of affairs of the Corporate Debtor - If in commercial wisdom the CoC has rejected the resolution for payment of salary to the Applicants, the question of reversing the decision cannot be considered - Tri

View Source

 


 

You may also like:

  1. The Appellant, a related party unsecured financial creditor, challenged the resolution plan approved by the Committee of Creditors (CoC) and the Adjudicating Authority,...

  2. Jurisdiction - approval of resolution plan - Power of NCLT / NCLAT over commercial wisdom of the Committee of Creditors (CoC) - This Court has consistently held that the...

  3. CIRP - discrimination of Related Party Financial or Operational Creditor - IBC treats related parties as a separate category for specified purposes, excluding from the...

  4. CIRP proceedings - Financial Creditors - Related party - while the default rule under the first proviso to Section 21(2) is that only those financial creditors that are...

  5. CIRP - Relating parties - As on the date of it becoming a part of the CoC, Respondent No. 2 was purely a Financial Creditor of the Corporate Debtor and hence, it cannot...

  6. The NCLAT dismissed the appeal challenging the approval of the resolution plan by the Committee of Creditors (CoC) and the Adjudicating Authority. The key findings were:...

  7. Approval of Resolution Plan by the Committee of Creditors (Coc) and Adjudicating Authority - Group of 77 homebuyers as a class of creditors seeking rejection of plan. -...

  8. Approval of Resolution Plan - Whether the CoC is empowered to decide the distribution methodology? - Keeping in view the catena of Judgments of the Hon’ble Apex Court...

  9. TDS u/s 194H or 192 - addition u/s 40(a)(ia) - Non-deduction of TDS on payment of commission to directors - appellant considered payment as salary and deducted TDS u/s...

  10. The Appellate Tribunal affirmed the decision to exclude the Appellant and other unsecured Financial Creditors from the Committee of Creditors (CoC). The key issues were...

  11. Addition of interest on interest free loans advanced by assessee Company to sister concerns/related parties disallowed. Onus on assessee to prove commercial expediency...

  12. Extension of the CIRP period of the Corporate Debtor by 60 days - The commercial wisdom of the CoC is paramount and non-justiciable, except on limited grounds specified...

  13. Validity of approval of Resolution plan - home buyers - no opinion was obtained on feasibility and viability - when the CoC approved the Resolution Plan in its...

  14. Inclusion of name of applicant in the CoC - related party or not - the Applicant is stepping into the shoes of the Assignor and thereby takes over the right of the...

  15. Approval of Resolution Plan - The NCLAT found no error in the adjudicating authority's decision, emphasizing the paramount importance of the commercial wisdom of the...

 

Quick Updates:Latest Updates