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RP’s Admission of Claim Amounts to Debt Acknowledgement u/s 18 of Limitation Act: NCLAT holds S. 7 CIRP Petitions Within Limitation [Read Order]
The National Company Law Appellate Tribunal (NCLAT), principal bench, New Delhi, in a recent case, had held CIRP under section 7 of the Insolvency...
ICAI Acknowledges SC Verdict Abolishing 25-Year Experience Norm for Appointment as ITAT Accountant Member
ICAI recognised that the Court’s declaration that the 25-year threshold was arbitrary and unconstitutional matches CAs with advocates in tribunal eligibility criteria, since the Court had previously struck down a similar 25-year minimum for advocates.
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RP’s Admission of Claim Amounts to Debt Acknowledgement u/s 18 of Limitation Act: NCLAT holds S. 7 CIRP Petitions Within Limitation [Read Order]
The appellant’s sole defence was that the petitions were barred by limitation, but the tribunal ruled that admission of claims by the Resolution Professional (RP) in earlier CIRP proceedings constituted a valid acknowledgement under Section 18 of the Limitation Act, thereby saving limitation. Consequently, the CIRP proceedings under Section 7 were held to be maintainable
Kavi Priya
![Service Tax Not Payable on liquidated damages collected from supplier on account of non-performance of the contracts: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/CESTAT-CESTAT-Bangalore-Service-Tax-liquidated-damages-Taxscan.jpg "Service Tax Not Payable on liquidated damages collected from supplier on account of non-performance of the contracts: CESTAT [Read Order]")
Yogitha S. Yogesh
Rupesh Sharma
Saagarika Gopinath
Navasree A.MRP’s Admission of Claim Amounts to Debt Acknowledgement u/s 18 of Limitation Act: NCLAT holds S. 7 CIRP Petitions Within Limitation [Read Order]
The appellant’s sole defence was that the petitions were barred by limitation, but the tribunal ruled that admission of claims by the Resolution Professional (RP) in earlier CIRP proceedings constituted a valid acknowledgement under Section 18 of the Limitation Act, thereby saving limitation. Consequently, the CIRP proceedings under Section 7 were held to be maintainable
