Charity-run tree plantation and maintenance for environmental preservation qualifies as "charitable activity", making supplies GST-exempt under Notifi...
Drawings/designs supply and erection supervision fees from German contractor: designs non-taxable; supervision taxed as FTS/PE depending on six-month ...
Imported analyser diagnostic cartridges treated as accessories with analyser system, not standalone diagnostic reagents; extended limitation and penal...
Pending one-time settlement negotiations with a bank consortium did not justify keeping Section 7 IBC proceedings in abeyance, since the settlement was never unconditionally approved by all consortium members and a borrower cannot claim OTS acceptance as a right; with debt and default undisputed, the financial creditor's statutory right to trigger CIRP could not be subordinated to any inter-creditor/consortium arrangement, leading to affirmation of CIRP admission. Consent of other consortium lenders was not a precondition for a single consortium member to file a standalone Section 7 application, so the admission order suffered no illegality and the appeal was dismissed. - NCLAT
Pending one-time settlement negotiations with a bank consortium did not justify keeping Section 7 IBC proceedings in abeyance, since the settlement was never unconditionally approved by all consortium members and a borrower cannot claim OTS acceptance as a right; with debt and default undisputed, the financial creditor's statutory right to trigger CIRP could not be subordinated to any inter-creditor/consortium arrangement, leading to affirmation of CIRP admission. Consent of other consortium lenders was not a precondition for a single consortium member to file a standalone Section 7 application, so the admission order suffered no illegality and the appeal was dismissed. - NCLAT
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