Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
A creditor under the Presidency-Towns Insolvency Act may lodge and prove a claim without first obtaining a decree, because "creditor" and "debt" are used in an inclusive sense and the official assignee must independently verify the claim by a reasoned order. The assignee may admit or reject the claim on law and facts, and cannot accept it mechanically merely because the insolvent admits liability. Where proceedings were already pending, they do not transfer to the official assignee; the competent forum retains jurisdiction, while the claim may be preserved for dividend distribution pending the eventual adjudication. The decree-only view was rejected, and insolvency adjudication was treated as operating for the benefit of all creditors.
A creditor under the Presidency-Towns Insolvency Act may lodge and prove a claim without first obtaining a decree, because "creditor" and "debt" are used in an inclusive sense and the official assignee must independently verify the claim by a reasoned order. The assignee may admit or reject the claim on law and facts, and cannot accept it mechanically merely because the insolvent admits liability. Where proceedings were already pending, they do not transfer to the official assignee; the competent forum retains jurisdiction, while the claim may be preserved for dividend distribution pending the eventual adjudication. The decree-only view was rejected, and insolvency adjudication was treated as operating for the benefit of all creditors.
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