Operational creditor cannot seek to initiate CIRP against Corporate Debtor when real dispute exists: NCLAT
The NCLAT set aside Adjudicating Authority’s order initiating CIRP of the Corporate Debtor.
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Can revenue bring expenditure incurred in earlier years to be taxed in subsequent years? ITAT answers
After examining the expenses payable and the detailed order of the CIT,the ITAT held that the CIT has correctly examined the invoices, period and purpose for the expenses which have not been paid for the last six years
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NHRC directs Union Govt and Andhra Pradesh Govt to ensure provision of necessary nutrition to TB patients in Andhra Pradesh
The Commission was hearing a petition filed an advocate/social activist who highlighted the plight of TB patients suffering due to lack of adequate nutrition
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Insolvency proceeding can be restored when Consent term entered between parties includes a revival clause: NCLAT
“When consent term itself contains clause for revival, non-giving liberty specifically for revival by the Adjudicating Authority is inconsequential”, held NCLAT
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Section 74 of Contract Act has no application on Public Auction conducted under the Liquidation Process Regulations, 2016: NCLAT
NCLAT observed that in the instant matter “there was no title defect in the Corporate Debtor”.
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CIT was right in deleting addition made on account of low Gross Profit rate by AO without any justified reasoning: ITAT
It is a well-accepted principal of tax jurisprudence that the Assessing Officer cannot sit on the armchair of a businessman assessee to replace his business strategy by his own whims and fancies
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NFRA imposes monetary penalty of Rs. 1.10 Crore on Auditors of Coffee Day Enterprises Ltd.
National Financial Reporting Authority: The National Financial Reporting Authority (‘NFRA’) has imposed monetary penalty of Rs. 1.10 Crore on 1 Auditor Firm
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Can Corporate Debtor raise issue of pre-existing dispute if there is no evidence of any lacuna prior to demand notice? NCLAT answers
“The Adjudicating Authority does not appear to have committed any error in holding the alleged disputes claimed by the Corporate Debtor to be feeble as it is not supported by credible evidence.” NCLAT
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Mula-Mutha Riverfront Project: NGT prohibits PMC from cutting any trees till July 31
The matter was further listed for hearing on 31-07-2023.
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NCLAT modifies Rs Ten Lakh cost for being highly excessive
While speedily and effectively disposing off the present appeal, the NCLAT modified the imposed cost from Rs. 10,00,000/- to Rs. 1,00,000/- for the restoration of the company’s name in the register maintained by the ROC.
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No benefit to Corporate Debtor, if Criminal Proceedings were initiated after receipt of Demand Notice: NCLAT upholds NCLT’s order
While upholding NCLT’s order the NCLAT held that in the present case there is a debt which remained unpaid by the Operational Creditor.
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Once a document admitted as evidence cannot be objected at a later stage: NCLAT
NCLAT held that once a document is relied upon as evidence and not objected to, it cannot be rejected or ignored.
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[Zee-Sony merger] NCLAT sets aside NCLT order directing stock exchange to reconsider approval
NCLAT set aside the NCLT’s order and remitted back the matter to NCLT to examine the same after hearing both the parties.
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Whether an application filed under Section 7 IBC by Financial Creditor is barred by Section 10A IBC? NCLAT Answers
NCLAT held that benefit under S. 10-A of IBC can only be claimed when default occurs during prohibited period – ‘05-03-2020 to 25-03-2021’.
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DCDRC holds Cochin Airport liable for service deficiency for not providing adequate rain cover on boarding ladder; directs compensation of INR 16,000 to passenger
The Commission held that CIAL’s inadequate rain coverage while boarding flight caused a great deal of agony to the complainant as he got drenched in the rain and suffered fever for 3 days.
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Threshold limit includes both principal amount and interest under IBC; NCLAT set aside NCLT’s order
NCLAT held that the Adjudicating Authority committed error in rejecting the S. 7 application for not fulfilling ‘threshold’ when Deed of Guarantee mentions about the interest on default.
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DCDRC directs Apple India to either replace law student’s defective laptop or pay monetary compensation worth Rupees 2.3 lakhs
The Commission found Apple India to be liable for selling defective goods under the provisions of Consumer Protection Act, 2019
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NGT forms Joint Committee to probe allegations of environmental norms violations in constructions at CM Kejriwal’s residence
It was alleged that during the construction activities at 6 Flag Staff Road, Delhi, 20 trees were cut illegally as permissions for tree cutting were sought manipulatively.
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CERC issues ‘Category IV’ licence to THDC India Ltd for inter-State trading in electricity in whole of India
In accordance with Regulation 3(3) of the Trading Licence Regulations, for a person applying for Category `IV`, a trading licence should have a net worth of Rs. 10 crore and should have maintained minimum current ratio and liquidity ratio of 1:1, as on date of audited balance sheet accompanying the application.
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NCLT admits Go Air insolvency plea
A creditor has limited grounds to object to S. 10 of IBC application.
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