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...
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In a suit on a promissory note, the HC noted that untraversed pleadings and the absence of cross-examination meant the plaintiff's case on advance and execution stood admitted, and an adverse finding on lending capacity was perverse where the defendant filed no written statement and the court did not clarify its own doubts by questioning the witness. It further held that a promissory note need not be attested, non-examination of an attestor was not fatal, and breach of the cash-loan prohibition under section 269SS may attract tax consequences but does not make the debt void or unenforceable. The plaintiff's claim was therefore upheld.
In a suit on a promissory note, the HC noted that untraversed pleadings and the absence of cross-examination meant the plaintiff's case on advance and execution stood admitted, and an adverse finding on lending capacity was perverse where the defendant filed no written statement and the court did not clarify its own doubts by questioning the witness. It further held that a promissory note need not be attested, non-examination of an attestor was not fatal, and breach of the cash-loan prohibition under section 269SS may attract tax consequences but does not make the debt void or unenforceable. The plaintiff's claim was therefore upheld.
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