Reopening Assessments invalid where satisfaction and jurisdictional approval are absent for third party seized material, leading to quashing of assess...
Benami property exclusion from the insolvency estate: Benami Act proceedings preclude IBC tribunals from reopening attachments or treating such assets...
Page of 4824
Press 'Enter' after typing page number.
6141 to 6160 of 96463 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The dominant issue was whether a Section 9 IBC application could be maintained by re-segregating invoices to assert default beyond the Section 10A protected period and to defeat dismissal by the Adjudicating Authority. The tribunal held that once the operational creditor expressly pleaded that only seven invoices aggregating to Rs. 1.65 crore were outside Section 10A, it could not later add further invoices to inflate default, as this would amount to shifting the goalposts and using IBC as a coercive recovery mechanism. Since the corporate debtor had deposited Rs. 1.65 crore by FDR with the registry towards those seven invoices, rejection of the Section 9 application was upheld and the appeal was dismissed, with liberty to pursue civil remedies for Section 10A-period claims. - NCLAT
The dominant issue was whether a Section 9 IBC application could be maintained by re-segregating invoices to assert default beyond the Section 10A protected period and to defeat dismissal by the Adjudicating Authority. The tribunal held that once the operational creditor expressly pleaded that only seven invoices aggregating to Rs. 1.65 crore were outside Section 10A, it could not later add further invoices to inflate default, as this would amount to shifting the goalposts and using IBC as a coercive recovery mechanism. Since the corporate debtor had deposited Rs. 1.65 crore by FDR with the registry towards those seven invoices, rejection of the Section 9 application was upheld and the appeal was dismissed, with liberty to pursue civil remedies for Section 10A-period claims. - NCLAT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4824 
Join Channel 
