Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Insolvency and BankruptcyApril 16, 2024Case LawsSCH
Amendment of section 7 application - time limitation - date of default - The Supreme Court addressed a case involving the correction of a date mentioned in a previous order and an amendment to a petition under the Insolvency and Bankruptcy Code (IBC) 2016. The respondent sought an amendment to the petition, asserting that despite an initial default, subsequent events prevented the petition from being barred by limitation. The National Company Law Appellate Tribunal (NCLAT) affirmed the order allowing the amendment but left the question of limitation open. The Supreme Court decided not to entertain the appeal, deferring all aspects regarding limitation to the NCLT.
Amendment of section 7 application - time limitation - date of default - The Supreme Court addressed a case involving the correction of a date mentioned in a previous order and an amendment to a petition under the Insolvency and Bankruptcy Code (IBC) 2016. The respondent sought an amendment to the petition, asserting that despite an initial default, subsequent events prevented the petition from being barred by limitation. The National Company Law Appellate Tribunal (NCLAT) affirmed the order allowing the amendment but left the question of limitation open. The Supreme Court decided not to entertain the appeal, deferring all aspects regarding limitation to the NCLT.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
