Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural just...
Original works exemption excludes standalone boulder transportation, leaving subcontracted railway-project transport services subject to service tax l...
Annual production capacity determinations excluding stenter galleries support refunds for unconstitutional excise levies without an unjust-enrichment ...
Vicarious liability for cheque dishonour requires specific allegations of responsibility and cheque signatory; generic director allegations cannot sus...
Service of notice in insolvency proceedings is satisfied where...
Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural justice objections.
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
Service of notice in insolvency proceedings is satisfied where repeated attempts through speed post and email, corrected address particulars, and further opportunities to respond provide reasonable opportunity before ex parte action. A corporate debtor that keeps its registered office non-functional cannot rely on resulting non-receipt to establish a breach of natural justice, absent a challenge to email service or evidence of incorrect particulars or mala fides. For a corporate guarantor, a demand guarantee may contractually treat the principal borrower's acknowledgment or balance confirmation as the guarantor's acknowledgment. Written settlement proposals acknowledging liability can therefore extend limitation, while the section 7 inquiry remains confined to financial debt and default.
Service of notice in insolvency proceedings is satisfied where repeated attempts through speed post and email, corrected address particulars, and further opportunities to respond provide reasonable opportunity before ex parte action. A corporate debtor that keeps its registered office non-functional cannot rely on resulting non-receipt to establish a breach of natural justice, absent a challenge to email service or evidence of incorrect particulars or mala fides. For a corporate guarantor, a demand guarantee may contractually treat the principal borrower's acknowledgment or balance confirmation as the guarantor's acknowledgment. Written settlement proposals acknowledging liability can therefore extend limitation, while the section 7 inquiry remains confined to financial debt and default.
Note: It is a system-generated summary and is for quick reference only.