Power to receive documentary evidence upheld; documents referred in complaint may be placed on record without amendment where omission was inadvertent...
Proof of foreign public documents requires originals or certified diplomatic/notarial copies; inspection must occur in-magna presence and cross-examin...
Prior Sanction Requirement: absence of prescribed approval invalidates reassessment notice; limitation also bars notice if escaped income below thresh...
Res judicata barred the challenge because it repeated issues already decided against the successful resolution applicant, and the liquidation direction merely carried forward earlier final orders aimed at closure under the insolvency framework. The tribunal held that a post-reservation application for a one-time payment proposal did not create any right to rehearing, and the unilateral restructuring plea was a belated attempt to obstruct liquidation. It also held that regulatory approvals were the applicant's own responsibility under the approved plan; mere pendency of approval requests and repeated non-payment could not justify indefinite delay. Prolonged non-implementation, value erosion and lack of credible performance therefore justified liquidation, and the appeal was dismissed with costs.
Res judicata barred the challenge because it repeated issues already decided against the successful resolution applicant, and the liquidation direction merely carried forward earlier final orders aimed at closure under the insolvency framework. The tribunal held that a post-reservation application for a one-time payment proposal did not create any right to rehearing, and the unilateral restructuring plea was a belated attempt to obstruct liquidation. It also held that regulatory approvals were the applicant's own responsibility under the approved plan; mere pendency of approval requests and repeated non-payment could not justify indefinite delay. Prolonged non-implementation, value erosion and lack of credible performance therefore justified liquidation, and the appeal was dismissed with costs.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
