Electronic WhatsApp evidence without authentication or independent corroboration cannot sustain an unexplained-investment addition based on third-part...
Mutual current-account transactions excluded from deemed dividend treatment where no fresh borrowing arose; unsupported unsecured-loan addition also f...
NCLAT held that during an interim moratorium under Section 96 of the Insolvency and Bankruptcy Code, 2016, no additional financial creditor can initiate fresh proceedings against a personal guarantor when legal actions are already underway. The Appellate Tribunal confined its review to the specific grounds presented, finding no apparent error in the lower tribunal's order rejecting subsequent applications. The tribunal emphasized that once proceedings under Section 95 are initiated with an interim moratorium, other creditors are precluded from filing parallel applications. Consequently, the appeal was dismissed for lacking substantive merit, with a recommendation to expedite the existing insolvency proceedings.
NCLAT held that during an interim moratorium under Section 96 of the Insolvency and Bankruptcy Code, 2016, no additional financial creditor can initiate fresh proceedings against a personal guarantor when legal actions are already underway. The Appellate Tribunal confined its review to the specific grounds presented, finding no apparent error in the lower tribunal's order rejecting subsequent applications. The tribunal emphasized that once proceedings under Section 95 are initiated with an interim moratorium, other creditors are precluded from filing parallel applications. Consequently, the appeal was dismissed for lacking substantive merit, with a recommendation to expedite the existing insolvency proceedings.
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