Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
Insolvency professional agency governance rules amended to add nominee directors, tighten independent director eligibility, and regulate managing dire...
Under section 73, a summary in Form DRC-01 cannot replace the statutory show cause notice, and notice, statement and order must be issued and authenticated by the proper officer. The text notes that non-compliance makes the initiation ineffective, leading to quashing of the order in original while preserving the summary already issued and allowing a fresh notice. For de novo proceedings, the fresh notice relates back to the date of the summary, and the intervening period is excluded while computing limitation for passing the adjudication order.
Under section 73, a summary in Form DRC-01 cannot replace the statutory show cause notice, and notice, statement and order must be issued and authenticated by the proper officer. The text notes that non-compliance makes the initiation ineffective, leading to quashing of the order in original while preserving the summary already issued and allowing a fresh notice. For de novo proceedings, the fresh notice relates back to the date of the summary, and the intervening period is excluded while computing limitation for passing the adjudication order.
Note: It is a system-generated summary and is for quick reference only.
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