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 ...
Rejection of Section 10 application under IBC upheld as Appellant company filed it with unclean hands after evading Wilful Defaulter proceedings by Respondent Bank. Appellant selectively approached Bank for reprieve while avoiding proceedings, embroiling Bank in multiple litigations to stall recovery. Section 10 rights can't be misused to derive undue advantage over insolvency resolution objective. Adjudicating Authority rightly found Appellant's bonafides doubtful, filing motivated by reasons other than insolvency resolution. Appeal dismissed by NCLAT.
Rejection of Section 10 application under IBC upheld as Appellant company filed it with unclean hands after evading Wilful Defaulter proceedings by Respondent Bank. Appellant selectively approached Bank for reprieve while avoiding proceedings, embroiling Bank in multiple litigations to stall recovery. Section 10 rights can't be misused to derive undue advantage over insolvency resolution objective. Adjudicating Authority rightly found Appellant's bonafides doubtful, filing motivated by reasons other than insolvency resolution. Appeal dismissed by NCLAT.
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