Natural justice in insolvency-professional discipline requires disclosed material; notices based on extraneous material and ignored defences are vitia...
Development rights transfers treated as immovable property, while construction abatement applies and repeated non-payment permits extended service-tax...
Section 10A bars CIRP for defaults arising during its protected period. A cash-credit default requires non-payment of a debt that is legally due and presently payable; deferred interest recovery and the absence of a demand under an on-demand facility may prevent an actionable default. For an ad hoc cash-credit facility, a repayment period running from the date of availment excludes that first day, so default arises only after the period expires. Amendment of a Section 7 application may be permitted, but a substituted default date must be supported by pleaded facts and evidence, particularly where Section 10A permanently affects maintainability.
Section 10A bars CIRP for defaults arising during its protected period. A cash-credit default requires non-payment of a debt that is legally due and presently payable; deferred interest recovery and the absence of a demand under an on-demand facility may prevent an actionable default. For an ad hoc cash-credit facility, a repayment period running from the date of availment excludes that first day, so default arises only after the period expires. Amendment of a Section 7 application may be permitted, but a substituted default date must be supported by pleaded facts and evidence, particularly where Section 10A permanently affects maintainability.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4891 
