Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
Admission of a Section 7 application under the Insolvency and Bankruptcy Code, 2016, concerning the classification of a debt as a Financial Debt within the meaning of Section 5(8). The key points are: The debt arose from a Development Agreement involving the payment of a Security Deposit and an additional amount carrying interest at 18% per annum, compounded quarterly, indicating the time value of money. The Corporate Debtor acknowledged the interest liability in its balance sheet. The Adjudicating Authority correctly held that the debt qualified as a Financial Debt, and the creditor was a Financial Creditor, not an Operational Creditor. The NCLAT upheld the Adjudicating Authority's order, finding no error in admitting the Section 7 application and classifying the debt as a Financial Debt. The appeal was dismissed.
Admission of a Section 7 application under the Insolvency and Bankruptcy Code, 2016, concerning the classification of a debt as a Financial Debt within the meaning of Section 5(8). The key points are: The debt arose from a Development Agreement involving the payment of a Security Deposit and an additional amount carrying interest at 18% per annum, compounded quarterly, indicating the time value of money. The Corporate Debtor acknowledged the interest liability in its balance sheet. The Adjudicating Authority correctly held that the debt qualified as a Financial Debt, and the creditor was a Financial Creditor, not an Operational Creditor. The NCLAT upheld the Adjudicating Authority's order, finding no error in admitting the Section 7 application and classifying the debt as a Financial Debt. The appeal was dismissed.
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