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Supreme Court: NCLT has discretion to not admit Financial Creditor’s CIRP Application even if Corporate Debtor is in default

The Hon’ble Supreme Court (“SC”) has in its judgment dated July 12, 2022 in the matter of Vidarbha Industries Power Limited v. Axis Bank Limited [Civil Appeal No. 4633 of 2021] held that it is not mandatory for the adjudicating authority to admit an application to initiate Corporate Insolvency Resolution Process (“CIRP”) even if the […]

E-Invoicing Now Mandatory for Taxpayers with Aggregate Turnover of Exceeding Rs. 10 Cr., Effective 1st October 2022

We are pleased to share with you a copy of our latest publication of GST Café, briefing on recent notification wherein the Central Board of Indirect Taxes and Customs (‘CBIC’) has mandated e-invoicing by registered persons having aggregate turnover of exceeding Rs. 10 crore, w.e.f. 01.10.2022. We trust that you will find the same useful. Looking […]

International Inbound Roaming Services and International Long Distance Services to FTO is export of services: Bombay High Court

We are pleased to share with you a copy of our latest publication of GST Café, a briefing on recent ruling by the Hon’ble Bombay High Court in Vodafone Idea Limited vs The Union of India & Ors. with Commissioner of CGST & Central Excise vs Vodafone Idea Limited. The Bombay High Court, in the present […]

Taxpayers Eligible to Claim Pre-GST Accumulated ITC in a 60 Day Window: Supreme Court of India

Context The Hon’ble Supreme Court of India in Union of India & ANR. vs. Filco Trade Centre Pvt Ltd ANR[1] granted an extended period in which taxpayers can claim credit of taxes of Pre-GST acts by filing GST Form TRAN-1 and TRAN-2. The Respondent, Filco Trade Centre Pvt Ltd, challenged the constitutional validity of the […]

NCLT: Material facts are to be pleaded in preferential, fraudulent or avoidable transactions

The National Company Law Tribunal, Kolkata (“NCLT”), in its order dated May 30, 2022, in the matter of Star India Private Limited v. Advance Multisystem Broadband Communications Limited (I.A. No. 841/KB/2020) combined with Shri Kuldeep Verma, Resolution Professional of Advance Multisystem Broadband Communications Limited v. IndusInd Media and Communications Limited and Others (I.A. No. 1288/KB/2020) held […]

Gujarat High Court: Proceedings under Section 9 of the Arbitration and Conciliation Act, 1996 cannot be used for enforcement of the conditions of a contract

The Gujarat High Court (“GHC”) has in its judgment dated June 10, 2022 (“Judgment”), in the matter of Kanhai Foods Limited v. A and HP Bakes [R/First Appeal No. 2638 of 2021], held that issues involving enforcement of the conditions of a contract cannot be the subject matter of an application for interim measures under […]