Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Goods Transport Agency services via e commerce portals: consignment note creates custody and liability and enables exemption for unregistered recipien...
Pre-existing disputes over quality of goods, delivery delay and account reconciliation did not bar Section 9 insolvency proceedings where the Corporate Debtor itself had prepared and communicated a consequences sheet quantifying those issues and crystallising the balance payable. The Tribunal treated the debtor's insistence that payment follow acceptance of that sheet as a conditional stance, not evidence of a subsisting dispute over the admitted amount. On the record, the balance debt was acknowledged, and the dispute was held to be hypothetical, spurious or illusory as to that crystallised liability. The appeal was dismissed and admission of the Corporate Debtor into CIRP under Section 9 was upheld.
Pre-existing disputes over quality of goods, delivery delay and account reconciliation did not bar Section 9 insolvency proceedings where the Corporate Debtor itself had prepared and communicated a consequences sheet quantifying those issues and crystallising the balance payable. The Tribunal treated the debtor's insistence that payment follow acceptance of that sheet as a conditional stance, not evidence of a subsisting dispute over the admitted amount. On the record, the balance debt was acknowledged, and the dispute was held to be hypothetical, spurious or illusory as to that crystallised liability. The appeal was dismissed and admission of the Corporate Debtor into CIRP under Section 9 was upheld.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4823 
Join Channel 
