Explore the intricacies of insurance with our insightful articles covering crucial aspects. From the significance of utmost good faith to the impact of non-disclosure on insurance contracts, gain valuable insights. Stay informed about material facts, principles, and regulations shaping the insurance landscape. Delve into the world of insurance with clarity and understanding.
CASE-1 Applicant’s Name: Khera Trading Company Citation: Advance Ruling No. HAR/HAAAR/2018-19/06 The Haryana Appellate Authority of Advance Ruling (AAAR) bench held that 18% Goods and Service Tax (GST) is payable on pizza topping as pizza topping is not pizza. BRIEF FACTS: 1. The appellant is in the business of distributing various dairy and non-dairy products […]
Learn about the application process and time limits for registration under Sections 11 and 12AB for a Public Trust.
A negotiable instrument is a piece of paper that entitles a person to pay a sum of money that is transferable from one person to another by endorsement and delivery. The main objective before introducing the Negotiable Instrument Act, 1881 is to legalize the system under which these instruments can deliver from one person to another the same as that of ordinary goods.
The offence is said to be committed under Section 138 of the NI Act, only when he fails to pay the debt within 15 days and such person shall be punishable with imprisonment for a term which may be extended to two years, or with a fine which may extend to twice the amount of the cheque, or with both.
ISSUE FOR CONSIDERATION When a loan taken for acquiring a depreciable capital asset or a part of the purchase price of such capital asset is waived in a year subsequent to the year of acquisition, an issue that arises with respect to waiver of loan or part of the purchase price is whether the depreciation […]
Apex Court, in the case of Consolidated Construction Consortium Limited vs. Hitro Energy Solutions Private Limited, was seized of the following legal questions: 1. Whether the Appellant is an Operational Creditor under the Code even though it was a ‘purchaser’; 2. Whether the Respondent took over the debt from the Proprietary Concern; and 3. Whether the application under Section 9 of the Code is barred by limitation.
R. Geethabanu vs. Government of Tamil Nadu (Madras High Court, Madurai Bench) The Madras High held that the aggrieved person cannot file claim petitions both under the Motor Vehicles Act ,1988 as well as the Workmen Compensation Act,1923 in respect of the very same accident. The court also held that previous decisions of various High […]
A ‘going concern sale’ on an ‘as is where basis’ does not dissolve the corporate debtor, rather, it forms a part of the liquidation estate wherein the entire business, including assets and liabilities, including all contracts, licences, concessions, agreements, benefits, privileges, rights, or interests, is transferred to the purchaser. Therefore, it was concluded that the sale of a company as a ‘going concern’ means sale of both its assets and liabilities if it is stated on ‘as is where is basis’.
SC held that once the resolution plan was approved, all claims stood frozen and a claim which did not form a part of the final resolution plan would not be legally actionable.
