NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
A pre-existing dispute must be real, substantial and linked to the debt claimed; a later plea of non-supply, raised only before the Adjudicating Authority and not in reply to the demand notice, was treated as an afterthought and did not defeat the Section 9 application. A franchise dispute involving a separate proprietorship concern of the same proprietor was held to be independent of the invoice debt, so it could not constitute a pre-existing dispute for that claim. The tribunal also held that a proprietorship concern is not barred from invoking the Code, and that a demand notice may validly be issued through an authorised advocate. On that basis, the rejection of the Section 9 application was set aside and the matter remanded.
A pre-existing dispute must be real, substantial and linked to the debt claimed; a later plea of non-supply, raised only before the Adjudicating Authority and not in reply to the demand notice, was treated as an afterthought and did not defeat the Section 9 application. A franchise dispute involving a separate proprietorship concern of the same proprietor was held to be independent of the invoice debt, so it could not constitute a pre-existing dispute for that claim. The tribunal also held that a proprietorship concern is not barred from invoking the Code, and that a demand notice may validly be issued through an authorised advocate. On that basis, the rejection of the Section 9 application was set aside and the matter remanded.
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