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Competition News Bulletin – September 2020

We are glad to share the September 2020 edition of our newsletter – Competition News Bulletin. Some highlights of this issue are as under: CCI dismisses allegations on WhatsApp and Facebook for abuse of dominance in digital payments market CCI dismisses allegation of abuse of dominance by Delhi Metro in the market for parking lots in […]

Taxbuzz | COVID-19: Need for adjusting cost base and revising mark-up for services of captive service providers

We are pleased to share with you the copy of our latest edition of “TaxBuzz”. In the aftermath of COVID-19, benchmarking of profit margins of the low risk captive service providers from Transfer Pricing perspective would be a complex exercise, as the combined profitability in the value chain is shrinking and the associated enterprise would […]

GST Cafe | Recent developments under Goods and Services – August 2020

We are pleased to share with you the copy of our latest publication of GST Café, a briefing on the recent notification issued by the Central Board of Indirect Taxes and Customs (the ‘Board’) wherein the Board has appointed 01.09.2020 as the date on which Section 100 of the Finance Act, 2019 shall come into […]

Between the Lines | NCLAT: The occurrence of a default, and not the inability to pay debt is relevant for admitting or rejecting an application for initiation of CIRP under the IBC

The National Company Law Appellate Tribunal (“NCLAT”) in the case of Monotrone Leasing Private Limited v. PM Cold Storage Private Limited (decided on July 6, 2020) has held that the inability to pay-off debts and committing default are different aspects which are required to be adjudged on equally different parameters, and that ascertaining commission of […]

Supreme Court: The appellant’s plea on limitation was illusory; the date of execution of sale deed was deliberately excluded to overcome limitation and mislead the court

The Supreme Court of India (“SC”) by its judgement in Dahiben v. Arvindbhai Kalyanji Bhanusali through Legal Representative and Others [Civil appeal no. 9519 of 2019] (decided on July 9, 2020) upheld the order of the Gujarat High Court (“GHC”) affirming the decision of the trial court which had allowed the application of respondent nos. […]

NCLAT: A writing to be an acknowledgement of liability must involve an admission of subsisting jural relationship between the parties and a conscious affirmation of an intention of continuing such relationship in regard to an existing liability

The National Company Law Appellate Tribunal (“NCLAT”) in the case of Mr. R.R. Gopaljee v. Indian Overseas Bank and Others (decided on June 24, 2020) upheld the order dated July 05, 2019 passed by the NCLT, special bench, Chennai (“Adjudicating Authority”) under Section 7 (initiation of corporate insolvency resolution process by financial creditor) of the […]