Transfer-pricing aggregation of distinct support-service and subcontract transactions was rejected, while debt-free receivables attracted no notional ...
Customs exemptions cover photovoltaic assembly machinery and PVF backsheets, while fully declared cleared imports may avoid confiscation and penalties...
Specific tariff classification for LCD devices overrides treatment as electricity-meter parts, defeating differential duty, extended limitation, and p...
Stayed disciplinary punishment does not establish unfitness for insolvency professional registration; reconsideration must disregard mere pendency of ...
Indirect corporate control can create related-party status, excluding financial creditors from Committee of Creditors representation, participation an...
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The case deals with determining the appropriate date for converting an arbitral award expressed in foreign currency to Indian rupees. The court held that the exchange rate on the date of deposit applies, with non-withdrawal being at the discretion of the respondent. The date for converting a subsequent deposit is determined by the completion of proceedings. Statutory provisions dictate that interest ceases once a deposit is made to the court or the decree-holder. The relevant date for conversion is when the award becomes enforceable, after objections are decided. The deposited amount must be adjusted against the remaining principal and interest, converted on the date of enforceability. The ruling was in line with previous Supreme Court decisions.
The case deals with determining the appropriate date for converting an arbitral award expressed in foreign currency to Indian rupees. The court held that the exchange rate on the date of deposit applies, with non-withdrawal being at the discretion of the respondent. The date for converting a subsequent deposit is determined by the completion of proceedings. Statutory provisions dictate that interest ceases once a deposit is made to the court or the decree-holder. The relevant date for conversion is when the award becomes enforceable, after objections are decided. The deposited amount must be adjusted against the remaining principal and interest, converted on the date of enforceability. The ruling was in line with previous Supreme Court decisions.
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