Courier transshipment of imported goods via named carrier to air cargo stations renewed until 30.01.2026; exemption conditional, strict controls apply...
Insurer's investment gains and investment write-downs face Section 263 revision; enquiry upheld, Rule 5(b)(ii) lapse sustained, late corrigendum quash...
A contractual dispute whether non payment of a second instalment constitutes an operational debt under Sec. 5(21) and thus triggers initiation under Section 9 IBC was examined by applying the plain reading of the contract and the Mobilox test. The Tribunal held that a mere right to claim damages (Sec. 3(6)) does not automatically become an operational debt; because the contract reasonably admits the respondent's interpretation, a plausible pre existing dispute exists. Consequence: the pre existing dispute prevents invocation of insolvency remedies and the adjudicating authority's order was affirmed, with the appeal dismissed.
A contractual dispute whether non payment of a second instalment constitutes an operational debt under Sec. 5(21) and thus triggers initiation under Section 9 IBC was examined by applying the plain reading of the contract and the Mobilox test. The Tribunal held that a mere right to claim damages (Sec. 3(6)) does not automatically become an operational debt; because the contract reasonably admits the respondent's interpretation, a plausible pre existing dispute exists. Consequence: the pre existing dispute prevents invocation of insolvency remedies and the adjudicating authority's order was affirmed, with the appeal dismissed.
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