Reopening Assessments invalid where satisfaction and jurisdictional approval are absent for third party seized material, leading to quashing of assess...
Benami property exclusion from the insolvency estate: Benami Act proceedings preclude IBC tribunals from reopening attachments or treating such assets...
Exclusion of limitation period: pandemic suspension plus debtor acknowledgement can extend limitation, requiring fresh factfinding on guarantee invoca...
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A pre-existing dispute under Section 9 of the insolvency framework will bar admission where the debtor's reply raises a real, plausible controversy requiring investigation rather than a feeble or moonshine defence. The Tribunal treated the 15.06.2022 reply as a valid notice of dispute because it referred to internal audit findings, alleged fictitious invoices, missing purchase records, fake vehicle details, and returned goods, all arising before the demand notice. It also rejected reliance on alleged debt acknowledgment and later payment records, and found the subsequent GST assessment relevant in reinforcing the dispute. The Section 9 application was therefore liable to be rejected and the admission order was set aside.
A pre-existing dispute under Section 9 of the insolvency framework will bar admission where the debtor's reply raises a real, plausible controversy requiring investigation rather than a feeble or moonshine defence. The Tribunal treated the 15.06.2022 reply as a valid notice of dispute because it referred to internal audit findings, alleged fictitious invoices, missing purchase records, fake vehicle details, and returned goods, all arising before the demand notice. It also rejected reliance on alleged debt acknowledgment and later payment records, and found the subsequent GST assessment relevant in reinforcing the dispute. The Section 9 application was therefore liable to be rejected and the admission order was set aside.
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