NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4821 
Join Channel 
