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Archive: 07 May 2022

Posts in 07 May 2022

HC allows Personal Guarantors to submit representation to IRP  

May 7, 2022 1242 Views 0 comment Print

Ramesh Chander Agarwala Vs State Bank of India (NCLAT Delhi) It is true that in Ravi Ajit Kulkarni’s case this Tribunal has in paragraph 44 of the Judgment has laid down that limited notice by the Adjudicating Authority also be given to the Personal Guarantors. In the preset case, although no limited notice as contemplated […]

Permission under FEMA Required to Offer Securities to Companies of Neighbouring Countries

May 7, 2022 6672 Views 0 comment Print

Discover the requirements under FEMA for offering securities to neighboring countries. Understand the changes in the FDI regime to protect Indian businesses from unscrupulous activities.

IBC 2016: Section 7 application cannot be denied merely for non-stamping of Loan facility agreement 

May 7, 2022 606 Views 0 comment Print

Aashish Kadam Vs Nagpur Nagarik Sahakari Bank Ltd. (NCLAT Delhi) The submission which has been raised by Shri Shikhil Suri is that the document by which Secured Cash Credit Facility was extended to the Corporate Debtor is not a stamped and on account of document having not been stamped, the said document could not have […]

HC dismisses writ petition for availability of alternative remedy; Impost cost on Advocate for Rude Behaviour in Court

May 7, 2022 987 Views 0 comment Print

HC held that we are not inclined to entertain this writ petition and the same is accordingly dismissed without going into the merit of the assessment only on the ground of availability of the alternative remedy. This writ petition is dismissed with costs of Rs. 10,000/- upon Mr. Somak Basu, learned Advocate because of his rude behavior in Court and addressing to the chair in highly disrespectful manner.

No prosecution of customer for mere visit to brothel house for prostitution

May 7, 2022 3528 Views 0 comment Print

Chennuboina Raj Kumar Vs State of Andhra Pradesh (Andhra Pradesh HC) Learned counsel for the petitioner submits that the petitioner is only customer who visited the said brothel house for prostitution on payment made to other accused and as per the settled law in this regard, customer is not liable for prosecution for any of […]

CGST Rule 25: Physical verification without the knowledge of Appellant is not valid

May 7, 2022 17841 Views 1 comment Print

Micro Focus Software Solutions India Private Limited Vs Union of India & Anr. (Delhi High Court)  Reply to GST Registration cancellation notice was filed by the petitioner, stating why its registration should not be cancelled. Ignoring the reasons stated the GST Registration certificate was cancelled. Inspection of the premises was carried out by the Authority, […]

IBC – Moratorium Applies Only to Corporate Debtor & not to Director: SC

May 7, 2022 2991 Views 0 comment Print

Narinder Garg Vs Kotak Mahindra Bank Ltd. (Supreme Court) In P. Mohanraj & Others v. Shah Brothers Ispat Private Limited, (2021) 6 SCC 258, a Bench of three-Judges of this Court considered the matter whether a corporate entity in respect of which moratorium had become effective could be proceeded against in terms of Sections 138 […]

Section 263 Revision order cannot be passed on ground not forming part of CIT Notice

May 7, 2022 2454 Views 0 comment Print

PCIT Vs Universal Music India Pvt. Ltd. (Bombay High Court) Notice under Section 263 was issued by CIT on two issues, namely, (a) disallowance of Fringe Benefit Tax (FBT) paid of Rs.10,72,532/- included in miscellaneous expenses and not allowed by the Assessing Officer and (b) provision of Rs.1,40,98,685/- in respect of slow moving and absolete […]

Bombay HC allows filing of TRAN-1 & TRAN-2 Form manually

May 7, 2022 2127 Views 1 comment Print

Ashoka Buildcon Ltd. Vs Union of India (Bombay High Court) HC held that Petitioners are allowed to file and correct TRAN-1 and TRAN-2 Form. In case it is not possible to file the same online, it shall be filed manually. FULL TEXT OF THE JUDGMENT/ORDER OF BOMBAY HIGH COURT 1 In all these matters, the […]

HC direct Tax dept to maintain judicial discipline & follow doctrine of binding precedent

May 7, 2022 3216 Views 0 comment Print

HC direct the respondents to maintain judicial discipline and follow the doctrine of binding precedent and be careful in future, having due regard to the authorities of the Court, keeping in mind the judicial propriety and discipline.

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