Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Advance-ruling mechanism governs pending GST classification, exemption and taxability disputes, limiting writ review once the specialised forum functi...
For insolvency proceedings against personal guarantors, limitation runs from the demand notice invoking the guarantee and the guarantor's failure to pay within the stipulated period, not from the corporate debtor's default record. The Appellate Tribunal held that the notice dated 25.10.2019 validly invoked the personal guarantees, the relevant default date was 24.12.2019, and the Section 95 applications filed on 31.03.2022 were therefore within limitation. It also held that the absence of the revival letter with the original application was irrelevant to limitation, and that the Adjudicating Authority erred in treating the petitions as time-barred or in finding inconsistent default dates. The impugned orders were set aside and the petitions revived for fresh consideration under Section 100.
For insolvency proceedings against personal guarantors, limitation runs from the demand notice invoking the guarantee and the guarantor's failure to pay within the stipulated period, not from the corporate debtor's default record. The Appellate Tribunal held that the notice dated 25.10.2019 validly invoked the personal guarantees, the relevant default date was 24.12.2019, and the Section 95 applications filed on 31.03.2022 were therefore within limitation. It also held that the absence of the revival letter with the original application was irrelevant to limitation, and that the Adjudicating Authority erred in treating the petitions as time-barred or in finding inconsistent default dates. The impugned orders were set aside and the petitions revived for fresh consideration under Section 100.
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