Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
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Insolvency and BankruptcySeptember 6, 2022Case LawsAT
Initiation of CIRP - NCLT admitted the application - pre-existence of debt and dispute or not - There was clear contract between ‘CD’ and ‘OC’ as well as ‘CD’ and ‘Akshaya’ and it is squarely responsibility of CD towards its obligation to OC. Correspondence between ‘CD’ and ‘OC’ as produced by both ‘CD’ and ‘OC’ do not establish any pre-existing dispute. Hence, AA rightly taken decision in this regard and there are no error in the ‘impugned order’ for this issue. - AT
Initiation of CIRP - NCLT admitted the application - pre-existence of debt and dispute or not - There was clear contract between ‘CD’ and ‘OC’ as well as ‘CD’ and ‘Akshaya’ and it is squarely responsibility of CD towards its obligation to OC. Correspondence between ‘CD’ and ‘OC’ as produced by both ‘CD’ and ‘OC’ do not establish any pre-existing dispute. Hence, AA rightly taken decision in this regard and there are no error in the ‘impugned order’ for this issue. - AT
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