Transaction value and connected person treatment in excise valuation: proprietary concerns not inter connected undertakings, relief on valuation and c...
Appointment of Registrars as adjudicating officers under Companies Act reallocates territorial jurisdiction and sets appeal route to Regional Director...
Composite supply of drilling services and site specific chemicals characterised as composite supply; prior advance rulings set aside, tax rate left op...
Cross country pipeline classification and ITC entitlement: pipelines outside factory treated as immovable, ITC disallowed under Section 17 restriction...
Page of 4809
Press 'Enter' after typing page number.
6181 to 6200 of 96177 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The enforceability of a corporate continuing guarantee was...
Corporate guarantee invocation in insolvency petition: enforceability upheld, conditional sanction letter not a novation, limitation not barred after acknowledgment
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
The enforceability of a corporate continuing guarantee was upheld: recitals in a subsequent guarantee are non operative and cannot discharge prior obligations, so a recital of discharge fails if the instrument itself is void. Blank spaces confined to recitals and non material terms do not void the guarantee and do not raise a prima facie construction issue. A sanction/review letter proposing to relieve a guarantor is a proposal, not a novation, and conditional relief does not discharge the guarantee absent fulfillment of conditions. Pendency of a civil suit alone does not defeat an insolvency petition; acknowledgment of liability in time prevents the claim from being time barred. The appeal was dismissed.
The enforceability of a corporate continuing guarantee was upheld: recitals in a subsequent guarantee are non operative and cannot discharge prior obligations, so a recital of discharge fails if the instrument itself is void. Blank spaces confined to recitals and non material terms do not void the guarantee and do not raise a prima facie construction issue. A sanction/review letter proposing to relieve a guarantor is a proposal, not a novation, and conditional relief does not discharge the guarantee absent fulfillment of conditions. Pendency of a civil suit alone does not defeat an insolvency petition; acknowledgment of liability in time prevents the claim from being time barred. The appeal was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
