Customs Assessment Portal centralises classification and valuation guidance to support consistent, transparent and informed compliance across stakehol...
GST refunds for cancelled air tickets remain available when passenger reimbursements defeat unjust enrichment and credit-note adjustment is unavailabl...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
