Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
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NCLAT determined the threshold limit for filing an insolvency application against a Personal Guarantor under IBC. The Tribunal held that the Adjudicating Authority for Personal Guarantors is NCLT, rejecting the argument that Debt Recovery Tribunal has jurisdiction. The court specifically rejected the contention that a minimal debt of Rs.1000/- could trigger personal insolvency proceedings. The Tribunal emphasized that permitting insolvency proceedings on such a low threshold would undermine the legislative intent and potentially lead to excessive litigation against Personal Guarantors. Consequently, the threshold remains consistent with the standard Rs.1 crore limit for financial creditors. The appeal was dismissed, affirming the higher monetary threshold for initiating insolvency resolution against Personal Guarantors.
NCLAT determined the threshold limit for filing an insolvency application against a Personal Guarantor under IBC. The Tribunal held that the Adjudicating Authority for Personal Guarantors is NCLT, rejecting the argument that Debt Recovery Tribunal has jurisdiction. The court specifically rejected the contention that a minimal debt of Rs.1000/- could trigger personal insolvency proceedings. The Tribunal emphasized that permitting insolvency proceedings on such a low threshold would undermine the legislative intent and potentially lead to excessive litigation against Personal Guarantors. Consequently, the threshold remains consistent with the standard Rs.1 crore limit for financial creditors. The appeal was dismissed, affirming the higher monetary threshold for initiating insolvency resolution against Personal Guarantors.
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