Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
Pre-existing disputes and timing of default were decisive: contemporaneous communications and invoices showed plausible disputes on invoices, taxes and reconciliations requiring investigation, and applying the Mobilox and Sabarmati plausibility standard the insolvency petition was not maintainable on that ground. Separately, the contract stipulated default accrual only after a 365-day period from amount becoming due, making the demand notice prima facie premature as no default had occurred on the notice date. The adjudicating authority's rejection of the petition was therefore upheld.
Pre-existing disputes and timing of default were decisive: contemporaneous communications and invoices showed plausible disputes on invoices, taxes and reconciliations requiring investigation, and applying the Mobilox and Sabarmati plausibility standard the insolvency petition was not maintainable on that ground. Separately, the contract stipulated default accrual only after a 365-day period from amount becoming due, making the demand notice prima facie premature as no default had occurred on the notice date. The adjudicating authority's rejection of the petition was therefore upheld.
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