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...
NCLAT held that the operational creditor's Section 9 application was not maintainable due to failure to meet the statutory threshold limit of Rs 1 crore. The tribunal found prima facie evidence of suppressed payments and manipulated ledger accounts. By factoring in subsequent payments made by the corporate debtor after the critical date, the outstanding debt fell below the prescribed minimum limit. The appellate tribunal determined that the adjudicating authority was misled into initiating corporate insolvency resolution process (CIRP) ex parte. Consequently, the appeal was admitted, and the CIRP triggering was deemed unwarranted, effectively setting aside the earlier order.
NCLAT held that the operational creditor's Section 9 application was not maintainable due to failure to meet the statutory threshold limit of Rs 1 crore. The tribunal found prima facie evidence of suppressed payments and manipulated ledger accounts. By factoring in subsequent payments made by the corporate debtor after the critical date, the outstanding debt fell below the prescribed minimum limit. The appellate tribunal determined that the adjudicating authority was misled into initiating corporate insolvency resolution process (CIRP) ex parte. Consequently, the appeal was admitted, and the CIRP triggering was deemed unwarranted, effectively setting aside the earlier order.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
