Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
Page of 4807
Press 'Enter' after typing page number.
301 to 320 of 96140 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
NCLAT upheld recall of the loan facilities under the material adverse effect clause, holding that the lender could contractually form the opinion that the arrest of a personal guarantor and criminal investigation were likely to affect performance, so the recall was valid. It also held that the Section 7 applications were maintainable despite a pending challenge to the arbitral award and parallel execution, because the pleaded default began on failure to repay after recall and continued thereafter; insolvency proceedings are not barred merely because recovery steps were also taken. The tribunal further held that the arbitral award gave rise to a fresh limitation period, so the application filed within three years was not time-barred.
NCLAT upheld recall of the loan facilities under the material adverse effect clause, holding that the lender could contractually form the opinion that the arrest of a personal guarantor and criminal investigation were likely to affect performance, so the recall was valid. It also held that the Section 7 applications were maintainable despite a pending challenge to the arbitral award and parallel execution, because the pleaded default began on failure to repay after recall and continued thereafter; insolvency proceedings are not barred merely because recovery steps were also taken. The tribunal further held that the arbitral award gave rise to a fresh limitation period, so the application filed within three years was not time-barred.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
