Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
Procedural incompleteness in an insolvency application should be treated as curable rather than a ground to foreclose the applicant's right to initiate CIRP; the adjudicating authority must assess whether the application satisfies statutory completeness and whether a default exists, and must afford the applicant an opportunity to rectify defects before rejecting. Rejection based solely on an auditor's disclaimer or perceived unreliability of financial statements without permitting supplementation is unsustainable; the matter requires fresh consideration with directions to allow production of missing documents and application of settled admission tests.
Procedural incompleteness in an insolvency application should be treated as curable rather than a ground to foreclose the applicant's right to initiate CIRP; the adjudicating authority must assess whether the application satisfies statutory completeness and whether a default exists, and must afford the applicant an opportunity to rectify defects before rejecting. Rejection based solely on an auditor's disclaimer or perceived unreliability of financial statements without permitting supplementation is unsustainable; the matter requires fresh consideration with directions to allow production of missing documents and application of settled admission tests.
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