PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
Corporate debtor's account correctly declared as non-performing asset (NPA) due to failure to renew cash credit facilities and provide required financial documents for review within stipulated time. Banks require regular renewal to assess borrower's risk profile, credit worthiness, and viability to ensure account remains standard. Outstanding balance continuously exceeding sanction limit/drawing power renders account "out of order" as per RBI guidelines. Corporate debtor unable to rectify irregularities pointed out by bank, justifying declaration as NPA and initiation of insolvency proceedings u/s 7. Adjudicating authority's order upheld by appellate tribunal.
Corporate debtor's account correctly declared as non-performing asset (NPA) due to failure to renew cash credit facilities and provide required financial documents for review within stipulated time. Banks require regular renewal to assess borrower's risk profile, credit worthiness, and viability to ensure account remains standard. Outstanding balance continuously exceeding sanction limit/drawing power renders account "out of order" as per RBI guidelines. Corporate debtor unable to rectify irregularities pointed out by bank, justifying declaration as NPA and initiation of insolvency proceedings u/s 7. Adjudicating authority's order upheld by appellate tribunal.
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