Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
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The appellant, a decree holder, qualifies as a "Financial Creditor" under the Insolvency and Bankruptcy Code (IBC). The settlement agreement recognized the appellant's financial claim, and the decree formalized the respondent's obligation to pay, not altering the underlying financial debt's character. The petition filed by the appellant u/s 7 of the IBC is within the limitation period. The respondent's acknowledgments of debt before the High Court extended the limitation period u/s 18 of the Limitation Act, 1963. The NCLT order dismissing the petition on the ground of limitation is erroneous and liable to be set aside. The appeal is allowed.
The appellant, a decree holder, qualifies as a "Financial Creditor" under the Insolvency and Bankruptcy Code (IBC). The settlement agreement recognized the appellant's financial claim, and the decree formalized the respondent's obligation to pay, not altering the underlying financial debt's character. The petition filed by the appellant u/s 7 of the IBC is within the limitation period. The respondent's acknowledgments of debt before the High Court extended the limitation period u/s 18 of the Limitation Act, 1963. The NCLT order dismissing the petition on the ground of limitation is erroneous and liable to be set aside. The appeal is allowed.
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