NCLT rejects CIRP Petition against Birla Global Corporate Private Limited [Read Order]
The National Company Law Tribunal (NCLT) has recently rejected the Corporate Insolvency Plea filed by Birla Cotsyn (India) Limited through its...
![Expenses incurred for Business allowable as a Income Tax Deduction until the Liquidation of Firm: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Income-Tax-Deduction-Liquidation-ITAT-taxscan.jpg "Expenses incurred for Business allowable as a Income Tax Deduction until the Liquidation of Firm: ITAT [Read Order]")
![Guarantor shall pay off Debt on Default of Payment to Financial Creditor IL&FS: NCLAT upholds Order of Liquidation [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Debt-Payment-Financial-Creditor-ILFS-NCLAT-Liquidation-taxscan.jpg "Guarantor shall pay off Debt on Default of Payment to Financial Creditor IL&FS: NCLAT upholds Order of Liquidation [Read Order]")
![GST / Customs Duty Recovery from Companies undergoing Liquidation: CBIC issues SOP for NCLT cases in respect of the IBC [Read Circular]](https://www.taxscan.in/wp-content/uploads/2022/05/GST-Customs-Duty-Recovery-Companies-undergoing-Liquidation-CBIC-SOP-NCLT-IBC.jpg "GST / Customs Duty Recovery from Companies undergoing Liquidation: CBIC issues SOP for NCLT cases in respect of the IBC [Read Circular]")
![Appeal not maintainable against Kingfisher Capital CLO after Liquidation: ITAT directs Dept to File Fresh Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Appeal-Kingfisher-Capital-CLO-Liquidation-ITAT-Dept-Fresh-Appeal-Taxscan.jpeg "Appeal not maintainable against Kingfisher Capital CLO after Liquidation: ITAT directs Dept to File Fresh Appeal [Read Order]")
Payment of Pre-Deposit by Parent Company can be treated as 'Proper Compliance': Madras HC quashes Tribunal’s Action Dismissing Appeal [Read Order]
A two-judge bench of the Madras High Court comprising Justice R.Subramanian and Justice N. Sathish Kumar has quashed the CESTAT order wherein the Tribunal dismissed an appeal for non-compliance of...
![Payment of Pre-Deposit by Parent Company can be treated as Proper Compliance: Madras HC quashes Tribunal’s Action Dismissing Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Payment-of-Pre-Deposit-Parent-Company-Proper-Compliance-Madras-HC-Tribunals-Dismissing-Appeal-Taxscan.jpeg "Payment of Pre-Deposit by Parent Company can be treated as Proper Compliance: Madras HC quashes Tribunal’s Action Dismissing Appeal [Read Order]")
Company becomes Non-Existent on completion of Liquidation Process: ITAT upholds Overriding effect of IBC over Income Tax Proceedings [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) while quashing the income tax proceedings, held that since the Insolvency and Bankruptcy Code has overriding effect over the income tax...
![Company becomes Non-Existent on completion of Liquidation Process: ITAT upholds Overriding effect of IBC over Income Tax Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Company-completion-Liquidation-ITAT-IBC-Income-Tax-taxscan-2.jpeg "Company becomes Non-Existent on completion of Liquidation Process: ITAT upholds Overriding effect of IBC over Income Tax Proceedings [Read Order]")
Petition filed before Madras HC challenging Validity of S. 230 Scheme Process for Corporate Debtors undergoing Liquidation Proceedings [Read Petition]
A writ petition has been filed before the Madras High Court challenging the validity of section 230 of the Companies Act, 2013 read with Regulation 2B of IBBI (Liquidation Process) scheme process for...
![Petition filed before Madras HC challenging Validity of S. 230 Scheme Process for Corporate Debtors undergoing Liquidation Proceedings [Read Petition]](https://www.taxscan.in/wp-content/uploads/2022/03/Madras-HC-Scheme-Process-Corporate-Debtors-Liquidation-Proceedings-taxscan.jpeg "Petition filed before Madras HC challenging Validity of S. 230 Scheme Process for Corporate Debtors undergoing Liquidation Proceedings [Read Petition]")
Financial Creditors realises 221% of Liquidation Value and 51% of Admitted Claims through Corporate Insolvency Resolution Process
As per inputs received from the Ministry of Corporate Affairs (MCA), corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC), was initiated by banks in the...
Liquidation to be last resort for Insolvency Resolution Process of any Residential Project: NCLAT stays Liquidation of Three C Homes
While staying the liquidation of Three C Homes and remanding the matter back to National Company Law Tribunal (NCLT), the National Company Law Appellate Tribunal (NCLAT), Delhi Bench ruled that...
Purchaser of Assets of Liquidating Company is not Liable to pay Sales Tax dues; Gujarat High Court
In a recent judgment of the Gujarat High Court, it was held that the purchaser of the Assets of a Liquidating Company cannot be charged for its Sales Tax Dues prior to the purchase. The highlights of...
