Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
At the Section 7 admission stage, financial debt must be assessed by including interest payable under the underlying financial arrangement where the surrounding evidence supports that liability. Inter corporate deposit transactions, demand letters specifying principal and interest, the corporate debtor's request for time to repay the entire amount, prior repayment conduct, and TDS deductions may cumulatively establish acknowledgment of the interest component. A written agreement is not indispensable if subsequent conduct corroborates the arrangement. Excluding interest and considering only principal can therefore understate the debt for applying the statutory threshold, resulting in restoration of the Section 7 application subject to the permitted payment timeline.
At the Section 7 admission stage, financial debt must be assessed by including interest payable under the underlying financial arrangement where the surrounding evidence supports that liability. Inter corporate deposit transactions, demand letters specifying principal and interest, the corporate debtor's request for time to repay the entire amount, prior repayment conduct, and TDS deductions may cumulatively establish acknowledgment of the interest component. A written agreement is not indispensable if subsequent conduct corroborates the arrangement. Excluding interest and considering only principal can therefore understate the debt for applying the statutory threshold, resulting in restoration of the Section 7 application subject to the permitted payment timeline.
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