Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
Concessional Basic Customs Duty on Ethernet switches: classification as enterprise switches upheld, challenge dismissed for lack of substantial law qu...
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Financial debt characterization was examined for payments described as share subscription money; the rules exclude share subscription amounts from the definition of deposit under Rule 2(c)(vii) of the Companies (Acceptance of Deposits) Rules, 2014, and therefore such payments do not convert into financial debt permitting invocation of the Insolvency Code. An acknowledgment in the debtor's books was considered but found insufficient to alter character into financial debt. Resultantly the tribunal found no financial debt enabling a petition under insolvency law and dismissed the appeal.
Financial debt characterization was examined for payments described as share subscription money; the rules exclude share subscription amounts from the definition of deposit under Rule 2(c)(vii) of the Companies (Acceptance of Deposits) Rules, 2014, and therefore such payments do not convert into financial debt permitting invocation of the Insolvency Code. An acknowledgment in the debtor's books was considered but found insufficient to alter character into financial debt. Resultantly the tribunal found no financial debt enabling a petition under insolvency law and dismissed the appeal.
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