Residents Welfare Association Or Homebuyers’ Society Can’t Intervene In Insolvency Petition Against Builder : Supreme Court

The Supreme Court on Thursday (January 15) held that Resident Welfare Associations (RWAs) representing homebuyers cannot intervene in the Corporate Insolvency Resolution Process unless the RWA itself has disbursed funds or is directly a party to the financial transaction, as only then can it claim the status of a financial creditor. “A society or Resident…

NCLT Holds CGST Superintendent Guilty of Contempt on Account of Non‑Compliance with Refund Directions During Moratorium [Read Order]

The National Company Law Tribunal (NCLT), Indore Bench, has held that a Central Goods andServices Tax (CGST) Superintendent was guilty of contempt as he did not comply with the refund directions during the moratorium The case from the Corporate Insolvency Resolution Process (CIRP) of Bhagwan Motors Pvt. Ltd in June 2019. During the moratorium, the…