Topic
A homebuyers' association is not a 'claimant' under PMLA Sec 8(8), the Delhi HC held, and cannot seek restitution before charges are framed, limiting restitution to persons directly aggrieved by money-laundering offences.
NCLAT rules that an Interim Resolution Professional (IRP) is entitled only to proportional fees for duties performed during a stay on Committee of Creditors (CoC) constitution, rejecting claims for full statutory remuneration. The ruling clarifies that fee entitlement under IBC is contingent on actual functions discharged, not mere appointment duration.
Supreme Court rules that admission of debt by an Interim Resolution Professional during Corporate Insolvency Resolution Process does not constitute acknowledgment under Section 18 of the Limitation Act, 1963. Financial creditors filing Section 7 IBC petitions after limitation expiry remain time-barred, regardless of moratorium or COVID extensions.