Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
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The appeal challenges the admission of an unstamped Assignment Agreement dated 29.03.2022 under the Maharashtra Stamp Act, 1958. The court held that the Assignment Agreement is a registered document, and by virtue of Section 5(2) of the SARFAESI Act, 2002, the assignee, Phoenix Arc Pvt. Ltd., is entitled to prosecute and enforce all pending applications, appeals, and legal proceedings, including the Section 7 application filed by L&T Finance Ltd. The deeming clause in Section 5(2) protects and entitles Phoenix Arc Pvt. Ltd. to prosecute the Section 7 application. The Adjudicating Authority did not err in rejecting the Corporate Debtor's application to impound the document and allowing Phoenix Arc Pvt. Ltd. to prosecute the applications. The appeal was dismissed by the NCLAT (Appellate Tribunal).
The appeal challenges the admission of an unstamped Assignment Agreement dated 29.03.2022 under the Maharashtra Stamp Act, 1958. The court held that the Assignment Agreement is a registered document, and by virtue of Section 5(2) of the SARFAESI Act, 2002, the assignee, Phoenix Arc Pvt. Ltd., is entitled to prosecute and enforce all pending applications, appeals, and legal proceedings, including the Section 7 application filed by L&T Finance Ltd. The deeming clause in Section 5(2) protects and entitles Phoenix Arc Pvt. Ltd. to prosecute the Section 7 application. The Adjudicating Authority did not err in rejecting the Corporate Debtor's application to impound the document and allowing Phoenix Arc Pvt. Ltd. to prosecute the applications. The appeal was dismissed by the NCLAT (Appellate Tribunal).
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