CIRP Proceedings - scope of preferential transactions - It was ...

Payment of Rs. 2.5 Crore to Appellant Ruled as Preferential Despite Occurring Over a Year Before Insolvency Process.

March 31, 2020

Case Laws Insolvency and Bankruptcy AT

CIRP Proceedings - scope of preferential transactions - It was submitted that the "corporate debtor" paid a sum of ₹ 2,50,00,000 towards part payment of principal amount to the appellant on October 29, 2016 which is more than one year before the commencement date of initiation of the "corporate insolvency resolution process", therefore, it cannot be termed to be "preferential transactions". - The contention rejected.

View Source

← Previous Next →

CIRP Proceedings - scope of preferential transactions - It was ...

Payment of Rs. 2.5 Crore to Appellant Ruled as Preferential Despite Occurring Over a Year Before Insolvency Process.

March 31, 2020

Case Laws Insolvency and Bankruptcy AT

You may also like:

Appellant imported fermented and dried processed Sumatra cocoa beans which failed to conform to IS 8865:2003 standards as per FSSAI and BIS testing. Adjudicating...

The appeal challenged the maintainability of an application filed u/s 60(5) of the Insolvency and Bankruptcy Code seeking refund of an amount deposited as part of a...

Contravention of Sections 8(1) and 9(1)(f)(i) of the Foreign Exchange Regulation Act, 1973 - receiving foreign exchange payments in 1996-97 through fake export documents...

The NFRA held that the Auditors were grossly negligent and failed to exercise due diligence in the audit of a public interest entity, amounting to professional...

This notification amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. It substitutes certain...

The Tribunal examined the maintainability of an application for initiating the Corporate Insolvency Resolution Process (CIRP) u/s 7 of the Insolvency and Bankruptcy Code...

Tax deducted at source (TDS) credit was denied in the intimation u/s 143(1) to the assessee. The Commissioner of Income Tax (Appeals) upheld the Centralized Processing...

Rejection of declared transaction value under Valuation Rule 12, re-determination of value under Valuation Rules 4-9. Commissioner followed Rule 9, adopted actual values...

Additions u/s 2(22)(e) on account of deemed dividend - Accumulated profit - As per the provision of Explanation 2, all the profits of the company up to the date of...

Income deemed to accrue or arise in India - Royalty - provision of bandwidth capacity and for provision for interconnect services - The term "process" used under...

Re-assessment - Time limitation for notices issued - period of limitation enhanced from 5 years to 6 years - Prospective or retrospective amendment - 5 year period...

Under Hybrid Annuity Mode (HAM) for National Highway Projects, concessionaire constructs new road and provides Operation & Maintenance over 15-17 years with payment...

FEMA (Transfer or Issue Of Security By A Person Resident Outside India) - Sixth Amendment – Amendment In Regulations 2, 5, 10, 12 And Schedules 1, 2, 5, 6 & 7 - Notification

Income tax slabs - Upto 2 lacs = nil, from 2 lacs to 5 lacs = 10%, from 5 lacs to 10 lacs = 20%, above 10 lacs = 30%

The case pertains to the extinguishment of claims under the Insolvency and Bankruptcy Code (IBC) against Ruchi Soya Industries Limited, after the acceptance of the...

Quick Updates: