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...
Fraud classification under the RBI Fraud Master Circular, 2024 requires a reasoned order addressing the relevant facts, the noticee's submissions and the reasons for rejecting them. An order that merely reproduces forensic-audit observations and the show-cause notice, without dealing with defences, reflects non-application of mind and cannot sustain classification. The discussion further notes that proceedings against a former non-executive director were unsustainable for the audit review period where the forensic report attributed no fraudulent transaction or allegation to that director and no personal guarantee was produced. The fraud-classification order was set aside, with no permission to recommence proceedings for that period.
Fraud classification under the RBI Fraud Master Circular, 2024 requires a reasoned order addressing the relevant facts, the noticee's submissions and the reasons for rejecting them. An order that merely reproduces forensic-audit observations and the show-cause notice, without dealing with defences, reflects non-application of mind and cannot sustain classification. The discussion further notes that proceedings against a former non-executive director were unsustainable for the audit review period where the forensic report attributed no fraudulent transaction or allegation to that director and no personal guarantee was produced. The fraud-classification order was set aside, with no permission to recommence proceedings for that period.
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