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...
Written acknowledgment of a subsisting debt before expiry of limitation can extend time under Section 18 of the Limitation Act, and such acknowledgment by the principal borrower may bind a personal guarantor because of co-extensive liability. A communication marked "without prejudice" does not lose evidentiary value if, read as a whole, it clearly records repayment, restructuring, or continuation of settlement discussions and amounts to an unequivocal admission of liability. An irrevocable and unconditional personal guarantee cannot be unilaterally revoked by later notice, and a release plea fails where the alleged release document is not properly brought on record.
Written acknowledgment of a subsisting debt before expiry of limitation can extend time under Section 18 of the Limitation Act, and such acknowledgment by the principal borrower may bind a personal guarantor because of co-extensive liability. A communication marked "without prejudice" does not lose evidentiary value if, read as a whole, it clearly records repayment, restructuring, or continuation of settlement discussions and amounts to an unequivocal admission of liability. An irrevocable and unconditional personal guarantee cannot be unilaterally revoked by later notice, and a release plea fails where the alleged release document is not properly brought on record.
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