Transfer-pricing aggregation of distinct support-service and subcontract transactions was rejected, while debt-free receivables attracted no notional ...
Customs exemptions cover photovoltaic assembly machinery and PVF backsheets, while fully declared cleared imports may avoid confiscation and penalties...
Specific tariff classification for LCD devices overrides treatment as electricity-meter parts, defeating differential duty, extended limitation, and p...
Stayed disciplinary punishment does not establish unfitness for insolvency professional registration; reconsideration must disregard mere pendency of ...
Indirect corporate control can create related-party status, excluding financial creditors from Committee of Creditors representation, participation an...
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NCLAT dismissed the appeal, affirming the financial debt of Rs. 2.5 Crores against the corporate debtor. The tribunal held that the default was established through audited financial statements dated 31.01.2019, which predates the Section 10A exemption period. The information utility record and financial statements conclusively proved the debt, and the liquidator was legally authorized to initiate Corporate Insolvency Resolution Process (CIRP) proceedings. The court rejected appellant's contentions regarding lack of written documentation and challenged the liquidator's right to pursue legal recovery, ultimately upholding the financial creditor's claim.
NCLAT dismissed the appeal, affirming the financial debt of Rs. 2.5 Crores against the corporate debtor. The tribunal held that the default was established through audited financial statements dated 31.01.2019, which predates the Section 10A exemption period. The information utility record and financial statements conclusively proved the debt, and the liquidator was legally authorized to initiate Corporate Insolvency Resolution Process (CIRP) proceedings. The court rejected appellant's contentions regarding lack of written documentation and challenged the liquidator's right to pursue legal recovery, ultimately upholding the financial creditor's claim.
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