Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
The Appellate Tribunal upheld the finding that a security deposit had been adjusted against lease rentals during the moratorium, but held that any restoration of that amount must be pursued before the Adjudicating Authority in appropriate proceedings. It also set aside the impugned order on fraudulent trading because material documents bearing on supply of machinery under the master lease arrangement had not been properly considered; the matter was remanded for fresh adjudication after permitting further evidence. The Tribunal further explained the different requirements under section 66(1) and section 66(2) and left open, for reconsideration on remand, whether a third party could be directed to contribute to the corporate debtor's assets.
The Appellate Tribunal upheld the finding that a security deposit had been adjusted against lease rentals during the moratorium, but held that any restoration of that amount must be pursued before the Adjudicating Authority in appropriate proceedings. It also set aside the impugned order on fraudulent trading because material documents bearing on supply of machinery under the master lease arrangement had not been properly considered; the matter was remanded for fresh adjudication after permitting further evidence. The Tribunal further explained the different requirements under section 66(1) and section 66(2) and left open, for reconsideration on remand, whether a third party could be directed to contribute to the corporate debtor's assets.
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