Home Highlights February 2014 Year 2014 This

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1. Maintainability of application - initiation of CIRP - From the invoices which are on the record, it is clear that invoices were issued to the FCIPL and invoices were not...

2. Initiation of CIRP - A combined reading of Sections 8 and 9 of the 'I&B Code' leaves no room for doubt that the payment of unpaid operational debt has to be unqualified...

3. Initiation of CIRP - Financial Creditors or Operational creditors - Upon execution of agreement of COR, the Appellant as a Financier discounted the invoice and deposited...

4. Pecuniary Jurisdiction - whether non-payment of TDS amount is debt or not - Present is a case where the Operational Creditor has misused the process of I&B Code in...

5. CIRP - Rejection of Section 9 Application on the ground of pre-existing dispute - The dispute stemmed from services provided by the Operational Creditor to the Corporate...

6. Initiation of CIRP - NCLT rejected the application - Financial Creditors - non-disbursement of part of financial assistance sanctioned by the Financial Creditors -...

7. Levy of service tax - negative debtors - advance payment received from their clients (and accounted under the head ‘debtors’ indicating negative) - The tribunal held...

8. Addition on account of difference in debtors and creditors - AO to grant proper and adequate opportunity as per law, to the assessee to explain the differences in...

9. Initiation of CIRP u/s 9 - time limitation - threshold limit of amount claimed - With respect to 234 invoices, which are payable within 30 days of the invoices, 224...

10. CIRP - dues of EPF - The law as it exists today does not oblige the IRP/RP to send any information to any creditor or statutory authority even if the records of the...

11. Initiation of CIRP - Failure to pay outstanding salary dues to the employees - Operational Creditor has not received his dues from the Corporate Debtor and the...

12. Initiation of CIRP - Flat Buyer is a Financial Creditor or not - Whether ‘HBPL’ falls within the ambit of the definition of ‘Corporate Debtor’, as defined under Section...

13. Additions on the ground of Bogus sundry creditors - since for the earlier years, assessee had opted for presumptive taxation under section 44D of the Act and therefore,...

14. Deduction of TDS - Interest u/s 2(28A) - Refund amount with interest to the flat purchasers/Petitioners as per the decree of the High Court - such a relationship does...

15. Rejection of Section 7 Application - NPA - Corporate Debtor unable to de-risk the live BGs within the time allowed - A settlement was reached between the parties, where...