Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Advance-ruling mechanism governs pending GST classification, exemption and taxability disputes, limiting writ review once the specialised forum functi...
A State statutory first charge under tax enactments was held to prevail over the priority claimed by a secured creditor under Section 26E of the SARFAESI Act, because Section 26E operates prospectively and does not itself create a first charge. The text also notes that prospective operation may still take account of antecedent events, but that does not alter the result where the superior court has already limited Section 26E to prospective effect. For CST dues, State recovery powers were treated as incorporated through section 9(2), allowing the Commercial Tax Department to rely on the State first charge. An earlier order permitting sale outside liquidation was recalled for want of hearing the Department.
A State statutory first charge under tax enactments was held to prevail over the priority claimed by a secured creditor under Section 26E of the SARFAESI Act, because Section 26E operates prospectively and does not itself create a first charge. The text also notes that prospective operation may still take account of antecedent events, but that does not alter the result where the superior court has already limited Section 26E to prospective effect. For CST dues, State recovery powers were treated as incorporated through section 9(2), allowing the Commercial Tax Department to rely on the State first charge. An earlier order permitting sale outside liquidation was recalled for want of hearing the Department.
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