Permanent Establishment and Business Connection: foreign consultancy receipts not attributable where no fixed base or corporate veil piercing establis...
Limitation period commencement and procedural inquiry rules: identity-based limitation upheld; complaints by authorised public servants need not attra...
NCLAT held that a Section 95 application against a personal guarantor was not maintainable where the guarantee had not been invoked before the Form B demand notice. The tribunal ruled that the Adjudicating Authority erred in treating the demand notice itself as invocation, because the legal scheme required the guarantor's liability to arise earlier. It also rejected reliance on an alleged prior invocation notice, since the application did not plead it, the supporting documents did not include it, and reliance on it had been expressly abandoned before the Adjudicating Authority. The admission order was set aside, leaving the creditor free to pursue other remedies available in law.
NCLAT held that a Section 95 application against a personal guarantor was not maintainable where the guarantee had not been invoked before the Form B demand notice. The tribunal ruled that the Adjudicating Authority erred in treating the demand notice itself as invocation, because the legal scheme required the guarantor's liability to arise earlier. It also rejected reliance on an alleged prior invocation notice, since the application did not plead it, the supporting documents did not include it, and reliance on it had been expressly abandoned before the Adjudicating Authority. The admission order was set aside, leaving the creditor free to pursue other remedies available in law.
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