Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Insolvency and BankruptcySeptember 29, 2023Case LawsAT
Initiation of CIRP - NCLT rejected the application u/s 7 - The Corporate Debtor had accepted before the AA that it is not in a position to repay `debt’ because of financial distress. The AA ought to have admitted the Application of the Appellant u/s 7 of the IBC, 2016 as there is no dispute about the `debt’ or liability of the Corporate Debtor - Matter restored back - AT
Initiation of CIRP - NCLT rejected the application u/s 7 - The Corporate Debtor had accepted before the AA that it is not in a position to repay `debt’ because of financial distress. The AA ought to have admitted the Application of the Appellant u/s 7 of the IBC, 2016 as there is no dispute about the `debt’ or liability of the Corporate Debtor - Matter restored back - AT
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