Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
Page of 4782
Press 'Enter' after typing page number.
601 to 620 of 95636 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The National Company Law Appellate Tribunal (NCLAT) dismissed the appeal, upholding the order admitting the Section 7 application filed by ICICI Bank against the Corporate Debtor for initiating the Corporate Insolvency Resolution Process (CIRP). The key findings were: The direction issued by the Reserve Bank of India (RBI) to ICICI Bank to initiate CIRP against the Corporate Debtor is relevant for determining default u/s 3(12) of the Insolvency and Bankruptcy Code (IBC). The scheme of arrangement to transfer the debt under Bucket 2B to a Special Purpose Vehicle was not approved, leading to default by the Corporate Debtor in servicing the debt. The Master Restructuring Agreement did not cover the facilities for which the Section 7 application was filed. The Corporate Debtor's One-Time Settlement proposal acknowledged the debt and default. The Financial Creditor brought sufficient material on record to prove debt and default by the Corporate Debtor.
The National Company Law Appellate Tribunal (NCLAT) dismissed the appeal, upholding the order admitting the Section 7 application filed by ICICI Bank against the Corporate Debtor for initiating the Corporate Insolvency Resolution Process (CIRP). The key findings were: The direction issued by the Reserve Bank of India (RBI) to ICICI Bank to initiate CIRP against the Corporate Debtor is relevant for determining default u/s 3(12) of the Insolvency and Bankruptcy Code (IBC). The scheme of arrangement to transfer the debt under Bucket 2B to a Special Purpose Vehicle was not approved, leading to default by the Corporate Debtor in servicing the debt. The Master Restructuring Agreement did not cover the facilities for which the Section 7 application was filed. The Corporate Debtor's One-Time Settlement proposal acknowledged the debt and default. The Financial Creditor brought sufficient material on record to prove debt and default by the Corporate Debtor.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4782
Join Channel
TaxTMI 
