Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
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IBC moratorium protects the corporate debtor but does not suspend or extinguish the personal statutory liability of directors or authorised signatories for cheque dishonour under the Negotiable Instruments Act. Expiry of the payment period after commencement of the moratorium is relevant but not conclusive. Specific allegations concerning the signatory's responsibility, issuance of cheques, and admitted signatures can sustain prosecution despite suspension of the board's powers, which does not retrospectively erase pre-moratorium acts. Defences based on knowledge, due diligence, or appointment of an insolvency professional require trial evidence and cannot ordinarily be determined in quashing proceedings. Accordingly, the moratorium did not bar the cheque-dishonour prosecution.
IBC moratorium protects the corporate debtor but does not suspend or extinguish the personal statutory liability of directors or authorised signatories for cheque dishonour under the Negotiable Instruments Act. Expiry of the payment period after commencement of the moratorium is relevant but not conclusive. Specific allegations concerning the signatory's responsibility, issuance of cheques, and admitted signatures can sustain prosecution despite suspension of the board's powers, which does not retrospectively erase pre-moratorium acts. Defences based on knowledge, due diligence, or appointment of an insolvency professional require trial evidence and cannot ordinarily be determined in quashing proceedings. Accordingly, the moratorium did not bar the cheque-dishonour prosecution.
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