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GST Amendments Notified In Finance Act, 2022, Effective From 1st October 2022 : CBIC

We are pleased to share with you a copy of our latest publication of GST Café, a briefing on recent notification wherein the CBIC has notified the provisions of sections 100 to 114, except clause (c) of section 110 and section 111, of the Finance Act, 2022, to be effective from 1st October 2022. We […]

NCLT: Section 14 of the Insolvency and Bankruptcy Code does not differentiate between assessment, quasi-judicial or judicial proceedings.

The National Company Law Tribunal, Mumbai (“NCLT/ Adjudicating Authority”) has in its judgement dated July 29, 2022 (“Judgement”), in the matter of M/S Ravi Infrastructure and Projects v. KSS Petron Private Limited [CP (IB) 1202/MB/C-II/2017] held that Section 14 (Moratorium) of the Insolvency and Bankruptcy Code, 2016 (“IBC“) does not differentiate between assessment, quasi-judicial or […]

NCLAT: Re-agitating an issue which has attained finality is an abuse of the process of law.

The National Company Law Appellate Tribunal (“NCLAT”), in Vikas Dahiya v. Arrow Engineering Limited [Company Appeal (AT)(Insolvency) No. 699 of 2022] (“Appeal No. 699 of 2022”) and Oval Investment Private Limited v. Arrow Engineering Limited [Company Appeal (AT)(Insolvency) No. 812 of 2022] (“Appeal No. 812 of 2022”), held that re-agitating an issue which has attained […]

NCLAT: Moratorium under Section 14 of Insolvency and Bankruptcy Code, 2016 is no bar for initiation of proceedings under Section 66 of the IBC

The National Company Law Appellate Tribunal, Principal Bench, New Delhi (“NCLAT”) has in its judgment dated August 4, 2022 in the matter of Rakesh Kumar Jain v. Jagdish Singh Nain and Others [Company Appeal (AT) (Ins.) No. 425 of 2022] held that the moratorium imposed under Section 14 (Moratorium) of the Insolvency and Bankruptcy Code, […]

Supreme Court: In the absence of any period of time and limitation prescribed by the enactment, every authority is to exercise power within a reasonable period

The Hon’ble Supreme Court (“SC”), in Securities and Exchange Board of India v. Sunil Krishna Khaitan and Others [Civil Appeal No. 8249 of 2013], examined the question of delay and laches in initiating proceedings and held that in the absence of any period of time and limitation prescribed by the enactment, every authority is to […]

Supreme Court: There cannot be two proceedings with respect to the same contract/transaction

The Hon’ble Supreme Court (“SC”) in M/s. Tantia Constructions Limited v. Union of India [Petition for Special Leave to Appeal (C) No. 10722/2022] (“SLP”) observed that it is of the “firm opinion that there cannot be two arbitration proceedings with respect to the same contract/transaction”. The SC stated that when a dispute has earlier been […]