For the period covered by the Resolution Plan, Income Tax Department cannot carry out any scrutiny or assessment in respect of the Corporate Debtor regarding carry forward of losses and set off against future profits under Income Tax Act, 1961 – The Sirpur Paper Mills Ltd. & Another Vs. Union of India & Two Others – Telangana High Court

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A public announcement is required to be made immediately within 3 days from the date of appointment. However, the Regulation does not provide that in case the announcement is made after three days, it will become nullity – M/s Mantena Laboratories Ltd. Vs. Union of India – Telangana High Court

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