Contractual tolerance requires consideration; breach recoveries, qualifying public infrastructure services and road works escape service tax liability...
Personal hearing requirements in GST adjudication were satisfied by prior opportunities and written submissions; appellate limitation received writ-pe...
Admission of a Section 7 insolvency application may be deferred only where relevant facts justify restraint, including the amount awarded, the wider debt position, and the corporate debtor's financial health and viability. Applying Vidarbha Industries Power Ltd., the Appellate Tribunal noted that the debt extended to consortium lenders, the execution claim was far below the admitted consortium debt, and the corporate debtor was only a project SPV with no independent business or income and no financial viability after takeover of the project. On those facts, the arbitral award in favour of the corporate debtor did not justify refusal or deferral of CIRP admission, and the Section 7 admission was upheld.
Admission of a Section 7 insolvency application may be deferred only where relevant facts justify restraint, including the amount awarded, the wider debt position, and the corporate debtor's financial health and viability. Applying Vidarbha Industries Power Ltd., the Appellate Tribunal noted that the debt extended to consortium lenders, the execution claim was far below the admitted consortium debt, and the corporate debtor was only a project SPV with no independent business or income and no financial viability after takeover of the project. On those facts, the arbitral award in favour of the corporate debtor did not justify refusal or deferral of CIRP admission, and the Section 7 admission was upheld.
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