Recently, the Chandigarh Bench of National Company Law Tribunal (“NCLT”) approving the amalgamation of a loss-making company, Panasonic India Private Limited (Transferor Company) with the profit-making company, Panasonic Life Solutions India Private Limited (Transferee Company), overruled the objections raised by the Income tax Department qua the proposed merger on the ground that the proposed merger was […]
The National Company Law Tribunal, Kolkata (“NCLT”) has in its order dated April 6, 2022, in the matter of CFM Asset Reconstruction Private Limited v. S. S. Natural Resources Private Limited and Another [IA No. 538/KB/2021 in CP (IB) No. 349/KB/2017] held that a corporate debtor cannot be sent into liquidation just because liquidation value […]
CONTEXT GST was sought to be levied vide notification no. 10/2017-Integrated Tax (Rate) read with notification no. 8/2017-Integrated Tax (Rate) on ocean freight for CIF imports. CIF transactions are such where the freight is borne by the supplier. Such CIF value is also considered for levy of customs duty. Aggrieved by the levy of GST […]
We are glad to share the May 2022 edition of our newsletter – Competition News Bulletin. Some highlights of this issue are as under: Competition Commission of India (CCI) directs investigation against Zomato and Swiggy CCI directs investigation against Star TV CCI directs investigation against Google CCI finds NECC guilty of distorting the egg market in India […]
The Hon’ble Supreme Court has on 04.05.2022 pronounced much awaited decision in the case of Union of India v. Ashish Agarwal: C. A. No. 3005/2022. The said decision of the Hon’ble Supreme Court will give rise to numerous issues and litigation will not be put to rest. In this Tax Buzz, we have analyzed, repercussion […]
The Hon’ble National Company Law Tribunal, Jaipur (“NCLT”) has by its order dated February 22, 2022, in the matter of Shapoorji Pallonji Finance Private Limited v. Rekha Singh [IA No. 229/JPR/2021 in C.P. No. (IB) – 25/95/JPR/2021] held that no insolvency proceedings can be initiated under the Insolvency and Bankruptcy Code, 2016 (“IBC”) against personal […]
