NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
A Section 7 application was rejected as time-barred, raising issues whether the claimant was a financial creditor and whether the claim was within limitation. The underlying contract treated the trade advance as converting into a debt carrying time value of money upon default, satisfying the statutory elements of "financial debt"; consequently, the claimant was correctly classified as a financial creditor. On limitation, the exclusion/extension period directed in the SC suo motu proceedings required adding the balance limitation from 15.03.2020 to 01.03.2022, rendering the filing within time; therefore, the rejection on limitation was unsustainable and the appeal was allowed. - NCLAT
A Section 7 application was rejected as time-barred, raising issues whether the claimant was a financial creditor and whether the claim was within limitation. The underlying contract treated the trade advance as converting into a debt carrying time value of money upon default, satisfying the statutory elements of "financial debt"; consequently, the claimant was correctly classified as a financial creditor. On limitation, the exclusion/extension period directed in the SC suo motu proceedings required adding the balance limitation from 15.03.2020 to 01.03.2022, rendering the filing within time; therefore, the rejection on limitation was unsustainable and the appeal was allowed. - NCLAT
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