Courier transshipment of imported goods via named carrier to air cargo stations renewed until 30.01.2026; exemption conditional, strict controls apply...
Insurer's investment gains and investment write-downs face Section 263 revision; enquiry upheld, Rule 5(b)(ii) lapse sustained, late corrigendum quash...
Limitation for Section 95 insolvency proceedings against a personal guarantor ran from the date of actual invocation of the guarantee under Article 137 of the Limitation Act. Communications dated 29.01.2016 and 30.11.2018 were held not to be loan recall notices or effective invocations, as they only referred to default and possible legal action. The clear invocation occurred only on 03.08.2020, when the creditor expressly called upon the guarantor to pay. The proceedings initiated thereafter were therefore within limitation, and the NCLAT upheld their admission and dismissed the appeal.
Limitation for Section 95 insolvency proceedings against a personal guarantor ran from the date of actual invocation of the guarantee under Article 137 of the Limitation Act. Communications dated 29.01.2016 and 30.11.2018 were held not to be loan recall notices or effective invocations, as they only referred to default and possible legal action. The clear invocation occurred only on 03.08.2020, when the creditor expressly called upon the guarantor to pay. The proceedings initiated thereafter were therefore within limitation, and the NCLAT upheld their admission and dismissed the appeal.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4826 
Join Channel 
