Captive power transfer pricing and non-resident export commission rules support deletion of adjustments and withholding disallowance in discussed proc...
Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
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NCLAT addressed a Section 7 IBC petition involving a real estate developer's insolvency proceedings. The Appellate Tribunal held that the petition was not time-barred due to continuing default and debt acknowledgment. Homebuyers were deemed valid financial creditors, satisfying the statutory threshold for initiating Corporate Insolvency Resolution Process (CIRP). The tribunal rejected allegations of fraudulent intent, finding no substantial evidence to support such claims. The Corporate Debtor's objections regarding limitation, threshold, and malicious intent were comprehensively dismissed. The appeal was ultimately rejected, confirming the Adjudicating Authority's order to admit the insolvency petition and commence resolution proceedings against the developer.
NCLAT addressed a Section 7 IBC petition involving a real estate developer's insolvency proceedings. The Appellate Tribunal held that the petition was not time-barred due to continuing default and debt acknowledgment. Homebuyers were deemed valid financial creditors, satisfying the statutory threshold for initiating Corporate Insolvency Resolution Process (CIRP). The tribunal rejected allegations of fraudulent intent, finding no substantial evidence to support such claims. The Corporate Debtor's objections regarding limitation, threshold, and malicious intent were comprehensively dismissed. The appeal was ultimately rejected, confirming the Adjudicating Authority's order to admit the insolvency petition and commence resolution proceedings against the developer.
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