Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
Page of 4916
Press 'Enter' after typing page number.
41 to 60 of 98302 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
NCLAT partly allowed the appeal, setting aside the Adjudicating Authority's waiver of interest on the balance sale consideration. It held that Schedule I Rule 12 of the Liquidation Process Regulations is mandatory, requiring payment of the balance sale consideration within 30 days, failing which 12% interest is payable, with an outer limit of 90 days (extendable only by the AA, not the Liquidator). The Successful Auction Purchaser, having delayed payment beyond 30 days from the Sale Confirmation Advice dated 29.12.2022, was held liable to pay 12% interest on the unpaid balance from expiry of 30 days until 15.06.2023, when extension was granted, to be paid within two weeks.
NCLAT partly allowed the appeal, setting aside the Adjudicating Authority's waiver of interest on the balance sale consideration. It held that Schedule I Rule 12 of the Liquidation Process Regulations is mandatory, requiring payment of the balance sale consideration within 30 days, failing which 12% interest is payable, with an outer limit of 90 days (extendable only by the AA, not the Liquidator). The Successful Auction Purchaser, having delayed payment beyond 30 days from the Sale Confirmation Advice dated 29.12.2022, was held liable to pay 12% interest on the unpaid balance from expiry of 30 days until 15.06.2023, when extension was granted, to be paid within two weeks.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
