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...
PMLA provisional attachment over PACL-linked properties could not be continued where the Supreme Court had already created a special Article 142 restitution framework for investors. The Court noted that enforcement powers are not extinguished by judicial directions, but they must operate consistently with the court-prescribed mechanism. It further held that restoration under the PMLA is only a limited exception dependent on Special Court satisfaction and cannot justify parallel continuation of attachment when the special process is available. Because the attachment had already served any preservative purpose and prolonged pendency was prejudicing investor interests, the matter was directed to proceed under the Supreme Court-created framework, and the attachment orders were set aside.
PMLA provisional attachment over PACL-linked properties could not be continued where the Supreme Court had already created a special Article 142 restitution framework for investors. The Court noted that enforcement powers are not extinguished by judicial directions, but they must operate consistently with the court-prescribed mechanism. It further held that restoration under the PMLA is only a limited exception dependent on Special Court satisfaction and cannot justify parallel continuation of attachment when the special process is available. Because the attachment had already served any preservative purpose and prolonged pendency was prejudicing investor interests, the matter was directed to proceed under the Supreme Court-created framework, and the attachment orders were set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4798
Join Channel
TaxTMI 
