Transition support services from corporate spinoff for India business segment - TP adjustment deleted; comparables reassessed; goodwill depreciation, ...
Qualification of fire extinguishers as aircraft parts - original duty finding under Notification No.50/2017-Sr.545 vacated; remanded for fresh adjudic...
In a Section 9 IBC claim founded on proforma invoices bearing a GST number, failure to furnish GST-payment particulars despite opportunity justified doubting the genuineness and quantum of the operational debt, supporting dismissal. The claim based on a tripartite management agreement also failed for want of privity, as the operational creditor was not a signatory and no contractual obligation of the corporate debtor towards it was shown, defeating that component of debt. Further, the corporate debtor raised a plausible contractual dispute requiring adjudication outside IBC, and Section 9 cannot be invoked for disputed debts or amounts below the statutory threshold; accordingly, admission was refused. - NCLAT
In a Section 9 IBC claim founded on proforma invoices bearing a GST number, failure to furnish GST-payment particulars despite opportunity justified doubting the genuineness and quantum of the operational debt, supporting dismissal. The claim based on a tripartite management agreement also failed for want of privity, as the operational creditor was not a signatory and no contractual obligation of the corporate debtor towards it was shown, defeating that component of debt. Further, the corporate debtor raised a plausible contractual dispute requiring adjudication outside IBC, and Section 9 cannot be invoked for disputed debts or amounts below the statutory threshold; accordingly, admission was refused. - NCLAT
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