Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
Grant or renewal of an excise licence remains governed by the Telangana Excise Act and the rules made under it, and is subject to statutory preconditions including payment of the prescribed fee. The insolvency adjudicatory forum cannot, under the Insolvency and Bankruptcy Code, override the State's sovereign regulatory domain by directing renewal of the licence or waiving statutory conditions. The direction was also unsustainable because the Excise Department was affected without being impleaded or heard. The impugned order was quashed, while leaving the respondent free to seek any remedy otherwise available in law for refund, adjustment, or renewal in accordance with excise law.
Grant or renewal of an excise licence remains governed by the Telangana Excise Act and the rules made under it, and is subject to statutory preconditions including payment of the prescribed fee. The insolvency adjudicatory forum cannot, under the Insolvency and Bankruptcy Code, override the State's sovereign regulatory domain by directing renewal of the licence or waiving statutory conditions. The direction was also unsustainable because the Excise Department was affected without being impleaded or heard. The impugned order was quashed, while leaving the respondent free to seek any remedy otherwise available in law for refund, adjustment, or renewal in accordance with excise law.
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