Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
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Insolvency and BankruptcyApril 25, 2024Case LawsAT
Initiation of CIRP - Maintainability of application filed u/s 9 of the Code - Respondent being a government company (PSU) is out of purview of the Code or not - The tribunal did not accept the argument that being a government entity exempted the respondent from insolvency proceedings, especially since operational engagements like the ones in question fell within the ambit of the Code. - Further, the tribunal noted that the arbitration proceedings under the MSME Act initiated by the appellant after the CIRP application did not constitute a pre-existing dispute that would affect the insolvency proceedings.
Initiation of CIRP - Maintainability of application filed u/s 9 of the Code - Respondent being a government company (PSU) is out of purview of the Code or not - The tribunal did not accept the argument that being a government entity exempted the respondent from insolvency proceedings, especially since operational engagements like the ones in question fell within the ambit of the Code. - Further, the tribunal noted that the arbitration proceedings under the MSME Act initiated by the appellant after the CIRP application did not constitute a pre-existing dispute that would affect the insolvency proceedings.
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