Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural just...
Original works exemption excludes standalone boulder transportation, leaving subcontracted railway-project transport services subject to service tax l...
Annual production capacity determinations excluding stenter galleries support refunds for unconstitutional excise levies without an unjust-enrichment ...
Vicarious liability for cheque dishonour requires specific allegations of responsibility and cheque signatory; generic director allegations cannot sus...
IT Resilience Index requires market infrastructure institutions to automate resilience scoring, early warnings, and continuous service-delivery monito...
Initiation of CIRP - Relevant date of default - The Tribunal noted the appellant’s arguments about defaults prior to the RBI’s COVID-19 moratorium guidelines but also observed that the application for CIRP and the recall notice came after the implementation of these guidelines. The Tribunal concluded that while the initial default might have occurred before the pandemic, the formal procedures for CIRP were only initiated after the pandemic began, thereby falling within the protective scope of Section 10A of the IBC. Consequently, the Tribunal dismissed the appeal, upholding the adjudicating authority's decision not to initiate CIRP, but noted that the appellant retains the right to pursue other legal remedies to recover the debt.
Initiation of CIRP - Relevant date of default - The Tribunal noted the appellant’s arguments about defaults prior to the RBI’s COVID-19 moratorium guidelines but also observed that the application for CIRP and the recall notice came after the implementation of these guidelines. The Tribunal concluded that while the initial default might have occurred before the pandemic, the formal procedures for CIRP were only initiated after the pandemic began, thereby falling within the protective scope of Section 10A of the IBC. Consequently, the Tribunal dismissed the appeal, upholding the adjudicating authority's decision not to initiate CIRP, but noted that the appellant retains the right to pursue other legal remedies to recover the debt.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
