Co-operative deduction eligibility excludes refund and commercial-bank interest, while qualifying co-operative investments require entity-wise verific...
Enhanced tax rate on surrendered unexplained income applies prospectively, while cash-deposit telescoping requires verification of available surrender...
Customs Broker licence proceedings require accurate procedural facts before delay or natural-justice findings can justify setting aside regulatory act...
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Section 7 proceedings based on a money decree cannot be used as a substitute for execution where the real dispute concerns computation of the decretal balance and ordinary enforcement remedies remain available. The Court reiterated that the IBC is meant for genuine insolvency and revival, not coercive debt recovery; on these facts, the corporate debtor was solvent, substantial payments had already been made, and the computation issue was already pending before the Delhi High Court. Although a money decree may in principle give rise to a fresh cause of action for insolvency proceedings, that principle is not automatic and the adjudicating forum must still guard against abuse. The NCLAT erred in treating the decree alone as sufficient; the insolvency application was restored to dismissal and execution was left open as the proper remedy.
Section 7 proceedings based on a money decree cannot be used as a substitute for execution where the real dispute concerns computation of the decretal balance and ordinary enforcement remedies remain available. The Court reiterated that the IBC is meant for genuine insolvency and revival, not coercive debt recovery; on these facts, the corporate debtor was solvent, substantial payments had already been made, and the computation issue was already pending before the Delhi High Court. Although a money decree may in principle give rise to a fresh cause of action for insolvency proceedings, that principle is not automatic and the adjudicating forum must still guard against abuse. The NCLAT erred in treating the decree alone as sufficient; the insolvency application was restored to dismissal and execution was left open as the proper remedy.
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