Withdrawal of obsolete FEMA circulars streamlines rules on external commercial borrowings, non-resident bond investments, and money transfer sub-agent...
Departmental appeal limitation after call-book recall preserves original filing, while documented correlation supports SAD refund on imported granules...
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Continuing failure to deliver possession of an allotted unit or refund amounts received constituted a continuing default, creating a continuing cause of action for a financial creditor's insolvency application. Inclusion of the creditor's claim in a settlement scheme operated as an acknowledgment of debt, preventing the claim from being treated as time-barred. The application therefore remained within limitation. Once the revival scheme was declared unworkable and parties were permitted to revive insolvency proceedings, objections based on the scheme's subsistence and parallel proceedings no longer survived. The corporate debtor's admission into insolvency consequently remained effective.
Continuing failure to deliver possession of an allotted unit or refund amounts received constituted a continuing default, creating a continuing cause of action for a financial creditor's insolvency application. Inclusion of the creditor's claim in a settlement scheme operated as an acknowledgment of debt, preventing the claim from being treated as time-barred. The application therefore remained within limitation. Once the revival scheme was declared unworkable and parties were permitted to revive insolvency proceedings, objections based on the scheme's subsistence and parallel proceedings no longer survived. The corporate debtor's admission into insolvency consequently remained effective.
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