Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Insolvency and BankruptcyApril 15, 2024Case LawsTri
Maintainability of petition seeking initiation of CIRP against Personal Guarantor/Respondent - invocation of Bank guarantee and time limitation - The case involved an application u/s 95 of the IBC by a Financial Creditor against a Personal Guarantor for recovery of outstanding debt. The Tribunal examined the validity of guarantees, notice of demand, limitation period, and the effect of CIRP against the Principal Borrower. It upheld the validity of guarantees, affirmed the notice of demand, and ruled the Company Petition as rejected due to being filed beyond the limitation period. The Tribunal also confirmed the constitutional validity of relevant IBC sections.
Maintainability of petition seeking initiation of CIRP against Personal Guarantor/Respondent - invocation of Bank guarantee and time limitation - The case involved an application u/s 95 of the IBC by a Financial Creditor against a Personal Guarantor for recovery of outstanding debt. The Tribunal examined the validity of guarantees, notice of demand, limitation period, and the effect of CIRP against the Principal Borrower. It upheld the validity of guarantees, affirmed the notice of demand, and ruled the Company Petition as rejected due to being filed beyond the limitation period. The Tribunal also confirmed the constitutional validity of relevant IBC sections.
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