Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
NCLAT upheld rejection of Section 9 application under Insolvency and Bankruptcy Code for material concealment of facts and pre-existing disputes. Appellant failed to disclose that demand notice was based on MSEFC award dated 16.04.2018, concealed pending writ petition challenging said award before Kerala HC, and falsely averred that demand notice was not denied despite corporate debtor's reply denying liability citing pre-existing dispute. NCLAT applied clean hands doctrine, holding parties must approach judicial forums with complete disclosure of material facts bearing on adjudication. Since Section 9 proceedings were initiated through material concealment and evidence showed pre-existing disputes, tribunal's rejection was proper and required no interference. Appeal dismissed.
NCLAT upheld rejection of Section 9 application under Insolvency and Bankruptcy Code for material concealment of facts and pre-existing disputes. Appellant failed to disclose that demand notice was based on MSEFC award dated 16.04.2018, concealed pending writ petition challenging said award before Kerala HC, and falsely averred that demand notice was not denied despite corporate debtor's reply denying liability citing pre-existing dispute. NCLAT applied clean hands doctrine, holding parties must approach judicial forums with complete disclosure of material facts bearing on adjudication. Since Section 9 proceedings were initiated through material concealment and evidence showed pre-existing disputes, tribunal's rejection was proper and required no interference. Appeal dismissed.
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