The National Company Law Appellate Tribunal, Principal Bench, New Delhi comprising Shri Justice Ashok Bhushan and Shri Barun Mitra and Shri Arun Baroka, has held that Refundable Security Deposit carrying interest in development agreement constitutes under Section 5 of IBC since the development agreement has the effect of a commercial transaction. Further, it was also argued that the respondent has …
Starting Tuesday, Noida residents can get new oxygen cylinders for COVID-19 patients in home isolation with a refundable security deposit of Rs 2,500, officials said on Monday. The initiative is part of an ongoing effort of Noida Authority with support from the Adani Group, which has provided it with 100 five-liter capacity oxygen cylinders, they said. While the move brought …
