Search-assessment proviso jurisdiction, time-barred valuation reports, and denial of cross-examination vitiate valuation-based and confession-based ad...
Proceeds of crime: provisional attachment confirmed; equivalent value attachment and acquisition date fair market value upheld, Covid exclusion preser...
Effective service requirement: officers must explore alternative service modes beyond the GST portal and afford personal hearing; non-compliance voids...
During CIRP, moratorium protection under the Insolvency Code preserves the corporate debtor's possession and status quo, preventing lease termination, re-entry and eviction that would recover property from the debtor. The High Court construed Section 14 broadly to cover statutory eviction proceedings as well as civil suits, and treated the explanation to Section 14(1) as clarificatory rather than an exception permitting breach-based action. It further held that any inconsistency between the Public Premises Act and the insolvency regime was resolved by Section 238 in favour of the Code. On that basis, the lease termination and eviction orders were quashed and the appeal was dismissed.
During CIRP, moratorium protection under the Insolvency Code preserves the corporate debtor's possession and status quo, preventing lease termination, re-entry and eviction that would recover property from the debtor. The High Court construed Section 14 broadly to cover statutory eviction proceedings as well as civil suits, and treated the explanation to Section 14(1) as clarificatory rather than an exception permitting breach-based action. It further held that any inconsistency between the Public Premises Act and the insolvency regime was resolved by Section 238 in favour of the Code. On that basis, the lease termination and eviction orders were quashed and the appeal was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4821 
Join Channel 
