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    Pre-existing dispute plausibility barred the insolvency petition and the demand notice was prima facie premature under contract terms.
    Lease Deed validity denied where unauthorized execution and no proof of consideration; disputed asset excluded from insolvency estate.
    Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
    Imposition of costs on financial creditors struck down for lack of recorded reasons following withdrawal under insolvency procedure.
    Condonation of Delay under the IBC: statutory limits on appeal timelines cannot be enlarged by Section 198, appeal dismissed.
    Acknowledgment under Limitation Act renews limitation; recovery certificate and judicial exclusion made filing timely; statutory termination route req...
    Threshold for insolvency proceedings assessed at conversion; converted Section 9 failed the statutory threshold and was set aside.
    Admission of belated claims reflected in corporate records: prepare a resolution-plan addendum for CoC and AA consideration.
    Simultaneous CIRP proceedings against debtor and guarantor permitted; election not required and safeguards prevent double recovery.
    Financial debt: indirect disbursement and a covenant to pay can create secured financial creditor status on the facts.
    Plausible Contention Test upheld: petition dismissal affirmed where a bona fide pre-existing dispute required further investigation.
    Commercial wisdom protects CoC decisions; operational clarifications to a resolution plan do not amount to modification or enhancement.
    Deeming clause for conversion does not bypass statutory compliance; failure to redeem triggered financial debt and insolvency proceedings.
    Extension of time to implement settlement: 90 days granted; payment within period will terminate CIRP and parties must assist.
    Valuation Standards: registered valuers must follow Board notified standards and prescribed report formats for insolvency valuations.
    Fair Value in Pre Pack now includes asset synergies and two independent valuer estimates to determine corporate fair value.
    Valuation report requirement: registered valuers must use Board notified format and retain documentation per circular upon voluntary liquidation.
    Valuation standards now set by Board circular; valuers must use Board-prescribed report format and retain required documentation.
    Fair value determination procedure updated: two valuers, coordinating valuer, third valuer trigger, averaging closest estimates.
    Existence of Financial Debt: curable procedural defects did not bar Section 7 admission.
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Acts Income Tax