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...
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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...
Substitution of attached immovable property with a demand draft or fixed deposit is not available as a general matter under Rule 5 of the 2013 Possession Rules. The Tribunal reasoned that the controlling question is statutory authority, not whether the proposed security is of equivalent value, and found no wider power in the 2002 Act or the Rules to permit such replacement outside the specified contingencies. It followed earlier tribunal authority and distinguished consent-based or rule-ignorant orders cited by the applicant. As the case did not fall within Rule 5(5) or Rule 5(6), the request for substitution was dismissed.
Substitution of attached immovable property with a demand draft or fixed deposit is not available as a general matter under Rule 5 of the 2013 Possession Rules. The Tribunal reasoned that the controlling question is statutory authority, not whether the proposed security is of equivalent value, and found no wider power in the 2002 Act or the Rules to permit such replacement outside the specified contingencies. It followed earlier tribunal authority and distinguished consent-based or rule-ignorant orders cited by the applicant. As the case did not fall within Rule 5(5) or Rule 5(6), the request for substitution was dismissed.
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