Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
Insolvency and BankruptcyMarch 10, 2022Case LawsTri
Initiation of CIRP - On reading the terms of the Joint Development Agreement, it is clear that in the project there are certain things to be done on the part of the petitioner herein - The revenue sharing concept which is the key to, this JVA makes it very clear that it cannot be turned as a service owed by the Respondent to the petitioner; both will have to sail together or sink, because of the JVA. - The dispute on balance / dues to be paid, should at best be termed as an ongoing business liability which should have been resolved between the parties in terms of the JVA. - Tri
Initiation of CIRP - On reading the terms of the Joint Development Agreement, it is clear that in the project there are certain things to be done on the part of the petitioner herein - The revenue sharing concept which is the key to, this JVA makes it very clear that it cannot be turned as a service owed by the Respondent to the petitioner; both will have to sail together or sink, because of the JVA. - The dispute on balance / dues to be paid, should at best be termed as an ongoing business liability which should have been resolved between the parties in terms of the JVA. - Tri
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