Admission of additional evidence under remand rules must await a meaningful remand report; failure to do so breaches natural justice and mandates rema...
Export Obligation Discharge Certificates for EPCG compliance cannot be questioned by Customs unless DGFT adjudicates and cancels them, so demands quas...
Rs. 13.20 crores disbursed to the corporate debtor was held to constitute 'financial debt' under Section 5(8)(f) of the IBC because the agreement required repayment and a 50% share of project profit as consideration, giving the transaction the commercial effect of a borrowing; outcome: treated as financial debt. The creditor established default when the corporate debtor terminated the agreement and failed to refund the disbursed amounts; outcome: debt became due and default occurred. Pendency of arbitral proceedings did not bar initiation or admission of a CIRP petition where debt and default are otherwise made out; outcome: Section 7 admission affirmed.
Rs. 13.20 crores disbursed to the corporate debtor was held to constitute 'financial debt' under Section 5(8)(f) of the IBC because the agreement required repayment and a 50% share of project profit as consideration, giving the transaction the commercial effect of a borrowing; outcome: treated as financial debt. The creditor established default when the corporate debtor terminated the agreement and failed to refund the disbursed amounts; outcome: debt became due and default occurred. Pendency of arbitral proceedings did not bar initiation or admission of a CIRP petition where debt and default are otherwise made out; outcome: Section 7 admission affirmed.
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