The Supreme Court (“SC”) has by its judgement (decided on January 22, 2020) held that there is no provision in the Insolvency and Bankruptcy Code, 2016 (“IBC”) that requires a resolution plan to match the liquidation value of the assets of the corporate debtor and that an approved resolution plan cannot be withdrawn by a […]
Introduction The Government of India in the recent budget, i.e. Finance Bill 2020 extended relief from filing income tax return to non-residents, whose total income consists income by way of royalty and/or fees for technical services [“FTS”] provided that such non-resident is not liable to pay tax other than the tax which has already been […]
To decode the tax fine-print, a seminar on Union Budget, 2020 was organized by Vaish Associates Advocates in conjunction with Taxsutra on Tuesday, February 4, 2020 at Hotel ‘Le Meridien’, New Delhi. Senior Advocate and Tax Stalwart, Mr. Ajay Vohra leads the discussions along with Partners of Vaish Associates Advocates. The session was moderated by […]
The National Company Law Tribunal, Mumbai Bench (“NCLT”) in the case of Pravin Blaggan, in the matter of Goa Auto Accessories v. Suresh Saluja (decided on December 12, 2019) held that a resolution professional (“RP”) could take possession of a corporate debtor’s assets which were subject matter of litigation, to facilitate the Corporate Insolvency Resolution […]
The Supreme Court of India (“SC”) has vide its judgment dated December18, 2019 (“Judgment”), highlighted the difference between inadequacy of reasons in an arbitral award and unintelligible arbitral awards passed under the Arbitration and Conciliation Act, 1996 (“Act”). FACTS DCM Shriram Aqua Foods Limited (“DCM”) had entered into a contract (“Contract”) with M/s. Crompton Greaves […]
On December 10, 2019, the constitutional bench of the Supreme Court (“SC”) in the case of Rajendra Diwan v. Pradeep Kumar Ranibala and Another, has held that section 13(2) of the Chhattisgarh Rent Control Act, 2011 (“Act”) is unconstitutional. The provision stipulates that an appeal directly to the SC against the order of RentControl Tribunal, […]
