Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
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Insolvency and BankruptcyApril 23, 2024Case LawsAT
Admission of Section 9 application filed by Operational Creditor - time limitation - Section 10A of IBC - The Tribunal found that apart from the lease rental of April 2021, the entire claim fell within the Section 10A period, rendering the application invalid. It also noted the contradiction in admitting the application after rejecting the Amendment Application, which acknowledged the Section 10A bar. Additionally, it clarified that the default must precede the issuance of the demand notice for the application to be valid under Section 9(1). As the default was claimed to have occurred before the notice, the application was deemed barred by Section 10A.
Admission of Section 9 application filed by Operational Creditor - time limitation - Section 10A of IBC - The Tribunal found that apart from the lease rental of April 2021, the entire claim fell within the Section 10A period, rendering the application invalid. It also noted the contradiction in admitting the application after rejecting the Amendment Application, which acknowledged the Section 10A bar. Additionally, it clarified that the default must precede the issuance of the demand notice for the application to be valid under Section 9(1). As the default was claimed to have occurred before the notice, the application was deemed barred by Section 10A.
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