Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
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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