Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
In liquidation, a guarantor or assignee can claim as a secured creditor only to the extent it proves payment of the discharged debt and its subrogation into the original creditor's shoes; without documentary proof of full discharge, the claim remains limited to the amount actually paid. An assignment supported by a registered charge was treated as covering the secured debt itself, not merely the value of the hypothecated machinery, and computation issues such as exchange-rate conversion were left to the Chartered Accountant's report. Allegations that the assignment was fraudulent were not accepted on the facts stated.
In liquidation, a guarantor or assignee can claim as a secured creditor only to the extent it proves payment of the discharged debt and its subrogation into the original creditor's shoes; without documentary proof of full discharge, the claim remains limited to the amount actually paid. An assignment supported by a registered charge was treated as covering the secured debt itself, not merely the value of the hypothecated machinery, and computation issues such as exchange-rate conversion were left to the Chartered Accountant's report. Allegations that the assignment was fraudulent were not accepted on the facts stated.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
