Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
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Insolvency and BankruptcyMarch 20, 2024Case LawsAT
Initiation of CIRP - Failure to make deposits the entire OTS amount - In the interests of justice, the Tribunal directed the appellants and the investor to deposit the agreed amounts within ten days before the National Company Law Tribunal (NCLT) by way of Fixed Deposit Receipts (FDRs) in favor of the NCLT Registrar. It clarified that the Adjudicating Authority would decide on the Section 7 application based on these deposits.
Initiation of CIRP - Failure to make deposits the entire OTS amount - In the interests of justice, the Tribunal directed the appellants and the investor to deposit the agreed amounts within ten days before the National Company Law Tribunal (NCLT) by way of Fixed Deposit Receipts (FDRs) in favor of the NCLT Registrar. It clarified that the Adjudicating Authority would decide on the Section 7 application based on these deposits.
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