Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
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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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