https://www.taxtmi.com/caselaws?id=295195 A power agent may appear and argue before the NCLT where authority is given in writing and the Tribunal permits such representation. The lender's failure to file income tax returns did not, by itself, defeat a repayment claim when the loan was supported by an acknowledgment letter, pronote, cheque and cash book. Alleged cash loan dealings were not treated as void for want of compliance with the RBI Master Direction or FEMA where no foreign remittance or proved regulatory breach was shown, and a borrower could not rely on its own default to avoid an acknowledged liability. The Tribunal also held that the acknowledgment, signed cheque and other documents established a legally enforceable debt despite no separate board resolution or complete debtor records. en-us Wed, 31 Jul 2019 00:00:00 +0530 Mon, 24 May 2021 08:35:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295195 A power agent may appear and argue before the NCLT where authority is given in writing and the Tribunal permits such representation. The lender's failure to file income tax returns did not, by itself, defeat a repayment claim when the loan was supported by an acknowledgment letter, pronote, cheque and cash book. Alleged cash loan dealings were not treated as void for want of compliance with the RBI Master Direction or FEMA where no foreign remittance or proved regulatory breach was shown, and a borrower could not rely on its own default to avoid an acknowledged liability. The Tribunal also held that the acknowledgment, signed cheque and other documents established a legally enforceable debt despite no separate board resolution or complete debtor records. Case-Laws Insolvency and Bankruptcy Wed, 31 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295195