Assessment time-barred u/s 153 due to missing competent-authority reference for Singapore exchange of information; assessment disallowed as barred by ...
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NCLAT set aside the adjudicating authority's order rejecting the appellant's Form C claim in the CIRP of the corporate debtor. It held that the NCLT had adopted a casual approach, having declared the claim time-barred and inadequately documented without examining relevant dates, inter se correspondence, or the clauses of the buyer insurance policy forming the basis of the claim and alleged indemnity benefit. As respondents conceded remand was appropriate, NCLAT found the impugned order unsustainable in law and remanded the matter to the NCLT for fresh adjudication on all issues, including limitation and quantum, in accordance with evidence on record.
NCLAT set aside the adjudicating authority's order rejecting the appellant's Form C claim in the CIRP of the corporate debtor. It held that the NCLT had adopted a casual approach, having declared the claim time-barred and inadequately documented without examining relevant dates, inter se correspondence, or the clauses of the buyer insurance policy forming the basis of the claim and alleged indemnity benefit. As respondents conceded remand was appropriate, NCLAT found the impugned order unsustainable in law and remanded the matter to the NCLT for fresh adjudication on all issues, including limitation and quantum, in accordance with evidence on record.
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