Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
Pre-institution mediation under Section 12A is mandatory for...
Urgent interim relief exception permits commercial suit without pre-institution mediation where immediate disclosure and asset protection are genuinely required.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Pre-institution mediation under Section 12A is mandatory for commercial suits that do not contemplate urgent interim relief. Whether the exception applies must be assessed from the plaintiff's standpoint, considering the suit's nature, cause of action and pleaded need for immediate protection; an unfounded urgency plea cannot bypass mediation. Urgent relief was genuinely contemplated where the suit sought investor recovery, earlier disclosures were inadequate, and ad-interim disclosure and asset-protection measures had already been granted despite existing regulatory restraints. The subsequent delay objection failed because investor claims had to be received before institution. Pre-institution mediation was therefore not a condition precedent, and rejection of the plaint under Order VII Rule 11 was unwarranted.
Pre-institution mediation under Section 12A is mandatory for commercial suits that do not contemplate urgent interim relief. Whether the exception applies must be assessed from the plaintiff's standpoint, considering the suit's nature, cause of action and pleaded need for immediate protection; an unfounded urgency plea cannot bypass mediation. Urgent relief was genuinely contemplated where the suit sought investor recovery, earlier disclosures were inadequate, and ad-interim disclosure and asset-protection measures had already been granted despite existing regulatory restraints. The subsequent delay objection failed because investor claims had to be received before institution. Pre-institution mediation was therefore not a condition precedent, and rejection of the plaint under Order VII Rule 11 was unwarranted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
