Depositor-protection proceedings prevail over corporate insolvency, while liquidators may recover chit receivables using copies of seized company reco...
Intermediary service classification fails where overseas admission facilitation is supplied independently, preserving export treatment and small-provi...
Satellite transponder bandwidth is telecommunication, not Business Support Service; foreign non-telegraph providers triggered no service tax liability...
Commitment proceedings gain extended timelines, structured defect refiling, and automatic resumption of inquiry after the adjusted completion period e...
Centralised assessment transfer becomes unwarranted once the searched person's assessment is complete, requiring restoration to the appropriate charge...
A personal guarantor remained liable where he had signed the loan sanction letter as guarantor and executed the guarantee documents, and the debt, default and NPA status were undisputed; a separate deed of guarantee was not necessary, so the challenge to the maintainability of the personal guarantor proceedings failed. The belated plea of duress was rejected because the documents were not timely disputed and the objection arose only after default and insolvency steps began. On the Section 99 issue, the resolution professional's report was held to be recommendatory, so its absence before admission did not invalidate the proceedings where the foundational facts were already established. Admission of the application was upheld.
A personal guarantor remained liable where he had signed the loan sanction letter as guarantor and executed the guarantee documents, and the debt, default and NPA status were undisputed; a separate deed of guarantee was not necessary, so the challenge to the maintainability of the personal guarantor proceedings failed. The belated plea of duress was rejected because the documents were not timely disputed and the objection arose only after default and insolvency steps began. On the Section 99 issue, the resolution professional's report was held to be recommendatory, so its absence before admission did not invalidate the proceedings where the foundational facts were already established. Admission of the application was upheld.
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