Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Goods Transport Agency services via e commerce portals: consignment note creates custody and liability and enables exemption for unregistered recipien...
Whether the avoidance application under ss. 43, 44, 66 and 69 read with Reg. 35A(3) was barred by limitation was the dominant issue. The tribunal held it was not time-barred because the computation of limitation stood extended by SC's suo motu COVID-19 directions excluding 15.03.2020 to 28.02.2022, and the filing was within the implied period permitted by the prior order granting liberty to apply; further, delay could be condoned without a formal application if sufficient material existed on record, rendering reliance on a contrary CPC-based HC decision inapposite. Consequently, the order refusing to dismiss the application as time-barred and directing hearing on merits was upheld, and the appeal was dismissed. - NCLAT
Whether the avoidance application under ss. 43, 44, 66 and 69 read with Reg. 35A(3) was barred by limitation was the dominant issue. The tribunal held it was not time-barred because the computation of limitation stood extended by SC's suo motu COVID-19 directions excluding 15.03.2020 to 28.02.2022, and the filing was within the implied period permitted by the prior order granting liberty to apply; further, delay could be condoned without a formal application if sufficient material existed on record, rendering reliance on a contrary CPC-based HC decision inapposite. Consequently, the order refusing to dismiss the application as time-barred and directing hearing on merits was upheld, and the appeal was dismissed. - NCLAT
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