Wilful defaulter - Foreign Letter of Credit - even if, the loan ...

Company Classified as Willful Defaulter for Foreign Letter of Credit Despite No Direct Loan Deposit to Account.

April 6, 2019

Case Laws Companies Law HC

Wilful defaulter - Foreign Letter of Credit - even if, the loan amount or the fund was not directly disbursed in the petitioner’s current account but it was directly paid to the exporters on behalf of the petitioner by the bank - relationship of lenders and borrower has been established - rightly considered as wilful defaulter

View Source

← Previous Next →

Wilful defaulter - Foreign Letter of Credit - even if, the loan ...

Company Classified as Willful Defaulter for Foreign Letter of Credit Despite No Direct Loan Deposit to Account.

April 6, 2019

Case Laws Companies Law HC

You may also like:

Willful defaulters - declaration by a Bank based on a Master circular of RBI - In the absence of serving the order of COE on the petitioners, there could never have been...

Declaration of Wilful Defaulter of the petitioner - Liability of Directors - The High Court dismissed the petitioner's arguments regarding the mechanical repetition of...

Declaration of bodies corporate, their promoters and directors, as “wilful defaulters” - Lack of transparency and due process in the Union Bank's procedure for declaring...

Removal of names of the petitioners from the list of wilful defaulters - This Court is of the view that the names of the writ petitioners cannot be removed from the list...

Disqualification of resolution applicant - wilful defaulter of bank - Rejection of Resolution Plan submitted by the Applicant - Appellant submits that on the day when...

Declaration of Petitioner as a Wilful Defaulter under the Master Circular on Wilful Defaulters, 2015 - depriving the Petitioner from availing credit facilities for his...

Validity of SCN proposing to declare the petitioners as wilful defaulters - Classification of Account as NPA - Impact of CIRP proceedings under IBC - The High Court held...

This case pertains to the utilization of ineligible CENVAT credit by a company. The key points are: The company availed ineligible CENVAT credit amounting to Rs....

The Resolution Plan excludes personal guarantors, limiting the assignment of debt and security interests to the corporate debtor only. Consequently, the assignee NBFC...

Deemed dividend u/s 2(22)(e) is not taxable in the hands of the assessee company if it is not a shareholder in the companies that extended loans. It is chargeable to tax...

TDS u/s 194A - TDS on deemed dividend - loan advanced by the assessee company to the other group companies - Even if, the appellant company hold 100% shares in these...

The High Court considered the issue of willful defaulters and the declaration of loan accounts as fraud without proper notice or hearing. The fraud declaration was found...

Assessee's claim for foreign tax credit u/s 90 allowed despite delay in filing Form No. 67 after due date of filing return u/s 139(1). Delay in filing Form 67 cannot...

Export of Business auxiliary service - The appellant promoted the business of such foreign companies in India and as a consideration for this service, the appellant...

Doctrine of piercing the corporate veil - In proceedings for declaration of Wilful Defaulter, the corporate veil has to be lifted in order to examine the role of the...

Quick Updates: