Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
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Insolvency and BankruptcyAugust 14, 2024Case LawsAT
The appeal sought to quash an Expression of Interest (EoI) for a new contractor due to an alleged error in an Assignment Agreement. The court found that the EoI did not breach the Insolvency and Bankruptcy Code. The Facility Use Agreement showed the appellant had operational rights but not ownership. The court ruled that the Corporate Debtor was not in possession, so Section 14(1)(d) did not apply. The Adjudicating Authority correctly upheld the EoI. The Corporate Debtor's non-payment of facility charges led to default and SARFAESI Act proceedings. The appeal was dismissed by NCLAT.
The appeal sought to quash an Expression of Interest (EoI) for a new contractor due to an alleged error in an Assignment Agreement. The court found that the EoI did not breach the Insolvency and Bankruptcy Code. The Facility Use Agreement showed the appellant had operational rights but not ownership. The court ruled that the Corporate Debtor was not in possession, so Section 14(1)(d) did not apply. The Adjudicating Authority correctly upheld the EoI. The Corporate Debtor's non-payment of facility charges led to default and SARFAESI Act proceedings. The appeal was dismissed by NCLAT.
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