Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Goods Transport Agency services via e commerce portals: consignment note creates custody and liability and enables exemption for unregistered recipien...
Reverse charge and assignment of royalty collection: exemption for excess royalty collectors subject to reconciliation; leaseholders remain liable und...
Crystallization of debt and the effect of undertakings in interlocutory proceedings were examined: interlocutory findings and recorded undertakings lack finality and cannot be extracted to defeat initiation of a corporate insolvency resolution process under the insolvency statute; therefore an observation in a miscellaneous appeal arising from an interlocutory order cannot be relied on to argue non crystallisation of debt. An admission of liability by the debtor amounts to an admission of debt, supporting the creditor's insolvency application. Consequently the appellate challenge to the insolvency initiation was rejected and the appeal dismissed by the NCLAT.
Crystallization of debt and the effect of undertakings in interlocutory proceedings were examined: interlocutory findings and recorded undertakings lack finality and cannot be extracted to defeat initiation of a corporate insolvency resolution process under the insolvency statute; therefore an observation in a miscellaneous appeal arising from an interlocutory order cannot be relied on to argue non crystallisation of debt. An admission of liability by the debtor amounts to an admission of debt, supporting the creditor's insolvency application. Consequently the appellate challenge to the insolvency initiation was rejected and the appeal dismissed by the NCLAT.
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