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...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
NCLAT dismissed the appeal and upheld the Adjudicating Authority's finding that the Section 7 petition was maintainable. The Tribunal held the Financial Creditor proved acknowledgment, part-payments and documentary confirmations giving rise to fresh causes of action under Section 25(3) of the Indian Contract Act and/or fresh limitation under Sections 18 and 19 of the Limitation Act, 1963; alternatively, limitation was suspended under Section 17 until discovery of the fraud on 27.12.2019, with the petition filed within one year thereafter. The Appellant was found complicit in concealing defaults; equitable bars were rejected and the Company Petition was held not time-barred. Appeal dismissed.
NCLAT dismissed the appeal and upheld the Adjudicating Authority's finding that the Section 7 petition was maintainable. The Tribunal held the Financial Creditor proved acknowledgment, part-payments and documentary confirmations giving rise to fresh causes of action under Section 25(3) of the Indian Contract Act and/or fresh limitation under Sections 18 and 19 of the Limitation Act, 1963; alternatively, limitation was suspended under Section 17 until discovery of the fraud on 27.12.2019, with the petition filed within one year thereafter. The Appellant was found complicit in concealing defaults; equitable bars were rejected and the Company Petition was held not time-barred. Appeal dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
