Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
For an RBI-regulated NBFC, breach of binding prudential norms may constitute conduct prejudicial to the company or public interest when assessed cumulatively with related-party dealings, inadequate compliance controls and governance failures. Regulatory penalties do not necessarily preclude oppression and mismanagement jurisdiction, because regulatory supervision and corporate-protection remedies address distinct concerns. Transactions involving related parties require demonstrable approval, documentation, security and recovery arrangements; retrospective omnibus approval may not validate earlier transactions. Resignations of compliance personnel and removal of independent directors may be relevant indicators of weakened governance safeguards. Administrator-led intervention and temporary board suspension may be proportionate protective measures where no equally effective, less intrusive alternative prevents further prejudice pending fuller inquiry.
For an RBI-regulated NBFC, breach of binding prudential norms may constitute conduct prejudicial to the company or public interest when assessed cumulatively with related-party dealings, inadequate compliance controls and governance failures. Regulatory penalties do not necessarily preclude oppression and mismanagement jurisdiction, because regulatory supervision and corporate-protection remedies address distinct concerns. Transactions involving related parties require demonstrable approval, documentation, security and recovery arrangements; retrospective omnibus approval may not validate earlier transactions. Resignations of compliance personnel and removal of independent directors may be relevant indicators of weakened governance safeguards. Administrator-led intervention and temporary board suspension may be proportionate protective measures where no equally effective, less intrusive alternative prevents further prejudice pending fuller inquiry.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4888 
