Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural just...
Original works exemption excludes standalone boulder transportation, leaving subcontracted railway-project transport services subject to service tax l...
Annual production capacity determinations excluding stenter galleries support refunds for unconstitutional excise levies without an unjust-enrichment ...
Vicarious liability for cheque dishonour requires specific allegations of responsibility and cheque signatory; generic director allegations cannot sus...
IT Resilience Index requires market infrastructure institutions to automate resilience scoring, early warnings, and continuous service-delivery monito...
NCLAT held that the Appellant was legally obligated to pay license fees as per License and Lease Agreement (LLA), rejecting contentions of mutual expense adjustment. The Adjudicating Authority possessed jurisdiction to decide inter-se disputes, and the Resolution Professional could validly terminate the LLA during moratorium period. The Appellant's arguments regarding expense offset and procedural limitations were deemed legally untenable. The Appellate Tribunal affirmed the lower court's order, emphasizing the Resolution Professional's statutory rights to protect corporate debtor's interests, and consequently dismissed the appeal as lacking substantive merit.
NCLAT held that the Appellant was legally obligated to pay license fees as per License and Lease Agreement (LLA), rejecting contentions of mutual expense adjustment. The Adjudicating Authority possessed jurisdiction to decide inter-se disputes, and the Resolution Professional could validly terminate the LLA during moratorium period. The Appellant's arguments regarding expense offset and procedural limitations were deemed legally untenable. The Appellate Tribunal affirmed the lower court's order, emphasizing the Resolution Professional's statutory rights to protect corporate debtor's interests, and consequently dismissed the appeal as lacking substantive merit.
Note: It is a system-generated summary and is for quick reference only.