Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
Real estate allottees seeking financial creditor status must establish a subsisting financial debt owed by the corporate debtor. Invoking arbitration for refund, accepting and presenting refund cheques, and pursuing remedies for dishonour constitute an election to seek refund rather than continue with allotment. Such conduct precludes simultaneous reliance on continuing allottee status and the deemed commercial effect of borrowing. The Supreme Court ruling concerning an existing allottee with a RERA decree was distinguished because the allottees had themselves pursued refund remedies. Recognition as financial creditors was therefore unavailable, and dismissal of the company appeals followed.
Real estate allottees seeking financial creditor status must establish a subsisting financial debt owed by the corporate debtor. Invoking arbitration for refund, accepting and presenting refund cheques, and pursuing remedies for dishonour constitute an election to seek refund rather than continue with allotment. Such conduct precludes simultaneous reliance on continuing allottee status and the deemed commercial effect of borrowing. The Supreme Court ruling concerning an existing allottee with a RERA decree was distinguished because the allottees had themselves pursued refund remedies. Recognition as financial creditors was therefore unavailable, and dismissal of the company appeals followed.
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