Supreme Court rules Moser Bear India Ltd. insolvent, unable to pay dues, legal precedent set The Supreme Court held that the Respondent-Company, Moser Bear India Ltd., is not financially viable and is under liquidation, unable to pay its ...
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Supreme Court rules Moser Bear India Ltd. insolvent, unable to pay dues, legal precedent set
The Supreme Court held that the Respondent-Company, Moser Bear India Ltd., is not financially viable and is under liquidation, unable to pay its outstanding dues, including taxes amounting to just over Rs. 2,00,00,000. The Court disposed of the appeals, leaving the legal question open for future cases.
The Supreme Court of India in 2020 (7) TMI 760 - SC Order, stated that the Respondent-Company (Moser Bear India Ltd.) is not financially viable and is under liquidation. The Official Liquidator reported that the company cannot pay the tax amount involved in the appeals. The company is in liquidation and unable to pay its outstanding dues, including taxes. The tax effect in the appeals is just over Rs. 2,00,00,000. The Court decided to dispose of the appeals, leaving the question of law open for a future case.
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