8 July 2024

Search Results for Tag : Initiation


Assessee can’t Challenge Jurisdiction of AO if Not Objected Initiation of Re-Assessment: Madras HC(19.04.2019)

Madras High Court has ruled that an assessee cannot challenge jurisdiction of an assessing officer if objection against re-assessment is not initiated.....

Tags : Madras High court, Assessee, Initiation of Re-Assessment


Top Story

Rajya Sabha passes the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020(19.09.2020)

Rajya Sabha amends IBC by temporarily suspending initiation of Corporate Insolvency Resolution Process. The Insolvency and Bankruptcy Code (Second Ame.....

Tags : CIRP, Initiation, Suspension


International Cases

When law required a thing to be done in a particular manner, same must be done accordingly, and, if prescribed procedure was not followed, it was assumed that, it had not been legally done(14.03.2018)

In facts of present case, 'Complainant' filed a complaint with Commission for alleged violations of Section 10 of Competition Act, 2010/Act. Complaina.....

Tags : Enquiry, Initiation, Powers, Commission


The Commissioner may initiate a complaint against an alleged prohibited practice(14.02.2018)

Present is an application for a dismissal of a complaint referral brought at the instance of the third respondent Omnia Fertilizer Limited ("Omnia"). .....

Tags : Compliant Referral, Tacit initiation, Validity


Notifications & Circulars

Government initiates consolidation - amalgamated entity to be India's third largest bank(17.09.2018)

First-ever three-way bank amalgamation process commences Government paves the way for amalgamated Public Sector Banks with global heft and business sy.....

Tags : Amalgamated entity, Largest bank , Initiation


Initiation of proactive steps after the assessment of financial markets(27.09.2018)

Based on its assessment of the financial markets, the Reserve Bank of India has taken several proactive steps in the last few days. The Reserve Bank h.....

Tags : Proactive steps, Initiation, assessment, Financial markets


Initiation of Sunset Review investigation concerning imports of PVC Suspension Grade Resin from China PR, Thailand, and USA(25.04.2019)

All the interested producers/exporters have been asked by the Authority on 05/04/2019 to submit additional data of 6 months beyond the Period of Inves.....

Tags : Initiation, Sunset Review, Investigation, Imports


Initiation of a midterm review investigation limited to change of name of producer/exporter from Singapore regarding anti-dumping duty imposed on specified products from mentioned countries(18.09.2023)

1. An application for change of name has been filed by INEOS Phenols Singapore Pte Ltd. (herein after referred to as "applicant"). The applicant is a .....

Tags : Initiation, Midterm review, Investigation


Initiation of Anti-Dumping Sun Set Review investigation concerning imports of "Phthalic Anhydride" originating in or exported from Korea RP, Chinese Taipei and Israel(11.12.2017)

Case No. SSR 18/2017

F. No. 07/19/2017-DGAD.--Having regard to the Customs Tariff Act, 1975 as amended in 1995 and thereafter (hereinafter al.....

Tags : Initiation, Anti-Dumping, Imports



Proposed externee is entitled, before an order of externment is passed under Section 56 of Bombay Police Act, 1951, to know material allegations against him(02.08.2017)

Present Petition is filed with prayer that, externment order passed by Respondent No. 3 - Sub-Divisional Magistrate, and order passed by Divisional Co.....

Tags : Externment order, Initiation, Legality


In order to initiate contempt proceedings, it has to be established that disobedience of order was 'wilful'(11.10.2019)

Present is a case in which contempt of court proceedings are sought to be initiated against the Respondent, who is a Judicial Officer, on the ground t.....

Tags : Contempt, Proceedings, Initiation


A Sole Proprietary Concern is not a person under Section 3(23) of IBC and it cannot initiate insolvency proceedings(23.09.2019)

In present case, RG Steels (Petitioner) has approached present Tribunal as Operational Creditor (OC) under the provisions of Section 9 of Insolvency a.....

Tags : Default, CIRP, Initiation


IBC is not a substitute to a recovery forum and whenever there is existence of real dispute, the IBC provisions cannot be invoked(04.09.2020)

The present appeal has been preferred by Kuntal Construction Pvt. Ltd. ('Operational Creditor') under Section 61 of the Insolvency & Bankruptcy Code 2.....

Tags : CIRP, Initiation, Legality


Bar under Section 10A of IBC against initiation of CIRP is retrospective and is applicable to applications filed from 25th March, 2020(09.02.2021)

The appellate jurisdiction of present Court under Section 62 of the Insolvency and Bankruptcy Code, 2016 ("IBC") has been invoked to challenge the jud.....

Tags : Initiation, CIRP, Interpretation, Provision


When default occurred over three years prior to filing of application, prayer to trigger CIRP against the Corporate Debtor is to be declined(16.02.2021)

The issue raised in present appeal against order passed by the Adjudicating Authority (National Company Law Tribunal), dismissing the Appellant's appl.....

Tags : CIRP, Initiation, Time bar


Proceedings initiated under SARFAESI Act by the secured creditors cannot be nullified merely on basis of technical defects and procedural lapses unless substantial prejudice was caused to the defaulte(27.10.2020)

The instant appeal is directed against the impugned judgment passed by the Division Bench of the High Court wherein the High Court while reversing the.....

Tags : Procedure, Initiation, Compliance


AO gets jurisdiction to reopen assessment only after recording the reasons for reopening and thereafter, issuing notice under Section 148 of IT Act within prescribed time(05.05.2021)

The assessee individual, filed her return of income admitting income of Rs.2,27,890. AO received information that the assessee, along with 4 others, h.....

Tags : Re-assessment, initiation, Validity


A person who advanced interest free loans to corporate body is also a financial creditor and can initiate CIRP(26.07.2021)

Present appeal under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) is against the final judgment of the National Company Law Appellate .....

Tags : CIRP, Initiation, Right


Holder of Recovery Certificate would be entitled to initiate CIRP under IBC(30.05.2022)

The present appeal challenges the judgment passed by the learned National Company Law Appellate Tribunal, New Delhi (“NCLAT”), thereby allowing the ap.....

Tags : CIRP, Initiation, Time limit


Liability of the guarantor is co-extensive with that of the principal borrower(06.09.2022)

Present appeal under Section 62 of the Insolvency and Bankruptcy Code, 2016, (IBC), is against a final judgment passed by the National Company Law App.....

Tags : Initiation, CIRP, Legality


When borrower is aggrieved by any of the actions of the bank for which the borrower has remedy under the SARFAESI Act, no writ petition should be entertained(08.08.2022)

The Petitioner, who stood as a guarantor to a loan facility, is aggrieved with the recovery action initiated by the bank, against the borrower and him.....

Tags : Recovery action, Initiation, Legality


Factual finding of the Appellate Authority cannot be interfered with in an appeal under Section 62 of the IBC(22.09.2022)

Present appeal under Section 62 of the Insolvency and Bankruptcy Code 2016, the ‘IBC’, is against a Judgement passed by the National Company Law Appel.....

Tags : CIRP, Initiation, Legality


In order to qualify the debt to be a 'financial debt', it is necessary that the amount advanced to the Corporate Debtor is against the time value of money(22.03.2023)

The instant Appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC) has been preferred by the Appellant being aggrieved and dissatis.....

Tags : Resolution Process, Initiation, Financial Debt


For the amount to be construed as a 'Financial Debt', there should be a direct disbursal of the amount owed(01.06.2023)

Present Appeal under Section 61 of the 'Insolvency and Bankruptcy Code, 2016' (IBC) is against Impugned Order, where by the Adjudicating Authority, ha.....

Tags : CIRP, Initiation, Financial debt


CIRP cannot be initiated for defaults arising within 12 months period beginning 25th March, 2020(14.09.2023)

The Borrower had raised funds for `Celebrity Football Match' to be held at Dubai. Since the Borrower had not repaid the loan, the Appellant had invoke.....

Tags : CIRP, Initiation, Specified period


“Right to sue" accrues when a default occurs and if the default has occurred over three years prior to the date of filing of the Application, the Application would be barred(14.10.2020)

Present Appeal emanates from the Impugned Order passed by the Adjudicating Authority, whereby the Adjudicating Authority has admitted the Application .....

Tags : Initiation, CIRP, Legality


After invocation of Section 33 (5) of the IBC, the authority does not have the power to initiate recovery of dues by means of sale/ confiscation(16.10.2023)

Present appeal is directed against the order passed by the National Company Law Tribunal, by which two applications, filed under Section 60 (5) of the.....

Tags : Initiation, Liquidation proceedings, Recovery


To constitute civil contempt, it must be established that disobedience is wilful, deliberate and with full knowledge of consequences(19.05.2020)

The grievance in present petitions is about non¬-compliance of direction given to the Respondent¬-Food Corporation of India to regularise and departme.....

Tags : Contempt action, Initiation, Grounds