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Archive: August, 2022

Posts in August, 2022

CESTAT condones delay of 2644 days in filing appeal by sick unit before BIFR under SICA

August 25, 2022 939 Views 0 comment Print

Royal Cushion Vinyl Products Limited Vs Commissioner Of Customs Export (CESTAT Mumbai) On perusal of the date chart/list of events, as above, we find that as a sick company, the applicant was pursuing the matter before the BIFR under the Sick Industrial Companies (special Provisions) Act, 1985. Further, on examination of the case records, we […]

Dishonor of cheque due to difference in signature covered u/s. 138 of NI Act

August 25, 2022 48753 Views 0 comment Print

Held that provisions contained in Section 138 of the NI Act is to be interpreted in a liberal manner so as to achieve the object for which the said provision has been enacted. Thus, dishonor of cheque due to difference in signatures is also covered under section 138 of the Negotiable Instruments Act

Calcutta High court stays reassessment proceedings on ground of time barred

August 25, 2022 9747 Views 0 comment Print

SS Commotrade Private Limited Vs ITO (Calcutta High court) By this writ petition, petitioner has challenged the impugned order dated 30th July, 2022 under Section 148A(d) of the Income Tax Act, 1961 relating to assessment year 2014-15, and, all subsequent proceedings based on the impugned notice dated 29th June, 2021 under Section 148 of the […]

Return filing and revision due date of TRAN 1 cannot be same

August 25, 2022 1773 Views 0 comment Print

Held that due date/ time limit for filing return in TRAN 1 seeking transition of credit and due date/ time limit for revision of TRAN 1 cannot be same.

Permission to use trademark is provisions of service thus dues there on is an operational debt

August 25, 2022 1029 Views 0 comment Print

Held that the Corporate Debtor was permitted to use the trademark of KKR in relation to its licensed products, accordingly, there was temporary transfer/permission to use, constituting provision of service. Hence, due and payable arising out of such service is an operational debt

Enhanced Disclosures by CRAs and Norms on Rating Withdrawal

August 25, 2022 1068 Views 0 comment Print

Securities and Exchange Board of India Circular No. SEBI/HO/DDHS/DDHS-RACPOD2/P/CIR/2022/ 113 | Dated: August 25, 2022 To All Credit Rating Agencies (CRAs) registered with SEBI Dear Sir/ Madam, Sub: Enhanced Disclosures by CRAs and Norms on Rating Withdrawal I. SEBI (Credit Rating Agencies) Regulations, 1999 (“CRA Regulations”) provide for a principle-based regulation of CRAs focusing inter alia on […]

Revised e-Nomination process for NPS subscribers of Govt/Corporate Sector

August 25, 2022 1809 Views 0 comment Print

Pension Fund Regulatory and Development Authority Circular no: PFRDA/2022/19/SUP-CRA/6 | Dated: Aug 25, 2022 To, All the NPS stakeholders Subject: Changes in process flow of e-Nomination for the benefit Government / Corporate Sector Subscribers PFRDA had introduced e – Nomination facility for the benefit of NPS Subscribers vide its communication dt. 03.09.2020. 2. The existing […]

Creditors who triggered CIRP can be impleaded as parties

August 25, 2022 3372 Views 0 comment Print

Held that only creditors who triggered the corporate insolvency resolution process can be impleaded as parties. An Appellant / Plaintiff in a given legal proceeding is the dominus litis.

Physical Verification of Registered Office by ROC

August 25, 2022 6051 Views 2 comments Print

Ensure compliance with ROC regulations by verifying the physical address of your registered office. Learn more about the importance of proper documentation and maintenance.

Rejection of application u/s 9 without pre-existing dispute is erroneous

August 25, 2022 3573 Views 0 comment Print

Held that there was no dispute on the date of filing of the application u/s. 9 of the IBC nor at the stage of notice u/s. 8 of the IBC any dispute was raised. Thus, NCLT has committed error in outrightly rejecting the application under Section 9 of the IBC.

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