Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
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Approved resolution plans bind existing members and override inconsistent company-law remedies, so equity share capital validly extinguished under a concluded insolvency resolution cannot be revived through rectification of the Register of Members. Membership in a company limited by shares follows shareholding; no separate membership right survives cancellation of pre-resolution shares. Register-maintenance provisions are administrative and do not preserve extinguished rights, while Producer Company provisions do not apply to a non-Producer Company. Rectification is confined to wrongful entries or omissions and related damages, not independent compensation, fresh shares, interest, or mental-suffering damages. Claims omitted from the plan are extinguished under its clean-slate effect; the rectification claim and consequential reliefs were not maintainable.
Approved resolution plans bind existing members and override inconsistent company-law remedies, so equity share capital validly extinguished under a concluded insolvency resolution cannot be revived through rectification of the Register of Members. Membership in a company limited by shares follows shareholding; no separate membership right survives cancellation of pre-resolution shares. Register-maintenance provisions are administrative and do not preserve extinguished rights, while Producer Company provisions do not apply to a non-Producer Company. Rectification is confined to wrongful entries or omissions and related damages, not independent compensation, fresh shares, interest, or mental-suffering damages. Claims omitted from the plan are extinguished under its clean-slate effect; the rectification claim and consequential reliefs were not maintainable.
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