Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Applicability of Section 8 of the Arbitration and Conciliation Act, 1996, in a company law matter involving allegations of oppression and mismanagement u/ss 96, 173, 241, and 244 of the Companies Act, 2013. The appellant failed to produce the original or certified copy of the agreement containing the arbitration clause, instead relying on an "authenticated copy." The tribunal held that an authenticated copy cannot be treated as a certified copy u/s 47 of the Registration Act and Rule 2(9) of the NCLT Rules, which is required to invoke Section 8. Additionally, the court relied on the Supreme Court's decision in Booz Allen & Hamilton Inc. v. SBI Home Finance Ltd., which stated that arbitration proceedings are a private forum and cannot preclude filing a company petition, as it is a judicial proceeding under the Companies Act and IBC. Consequently, the appellant's application u/s 8 was held inadmissible, and the company appeal was dismissed for failing to meet the statutory requirements.
Applicability of Section 8 of the Arbitration and Conciliation Act, 1996, in a company law matter involving allegations of oppression and mismanagement u/ss 96, 173, 241, and 244 of the Companies Act, 2013. The appellant failed to produce the original or certified copy of the agreement containing the arbitration clause, instead relying on an "authenticated copy." The tribunal held that an authenticated copy cannot be treated as a certified copy u/s 47 of the Registration Act and Rule 2(9) of the NCLT Rules, which is required to invoke Section 8. Additionally, the court relied on the Supreme Court's decision in Booz Allen & Hamilton Inc. v. SBI Home Finance Ltd., which stated that arbitration proceedings are a private forum and cannot preclude filing a company petition, as it is a judicial proceeding under the Companies Act and IBC. Consequently, the appellant's application u/s 8 was held inadmissible, and the company appeal was dismissed for failing to meet the statutory requirements.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4798
Join Channel
TaxTMI 
