Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
The insolvency admission was upheld because the corporate debtor could not reopen the validity of bank guarantee invocation after the DRT had already found that the guarantees were invoked before expiry and that finding had attained finality. The tribunal also treated the later one time settlement as a formal acknowledgment of the outstanding debt, and the debtor's failure to comply with that settlement constituted default. In view of the admitted sanction of the credit facility, execution of the corporate guarantee and mortgage, and remittance by the bank on invocation, the challenge to admission was untenable and the insolvency application remained valid.
The insolvency admission was upheld because the corporate debtor could not reopen the validity of bank guarantee invocation after the DRT had already found that the guarantees were invoked before expiry and that finding had attained finality. The tribunal also treated the later one time settlement as a formal acknowledgment of the outstanding debt, and the debtor's failure to comply with that settlement constituted default. In view of the admitted sanction of the credit facility, execution of the corporate guarantee and mortgage, and remittance by the bank on invocation, the challenge to admission was untenable and the insolvency application remained valid.
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