Effective hearing in GST adjudication requires actual opportunity to respond; ineffective service through a former auditor invalidated ex parte procee...
Third-party search material requires special assessment route, rendering general reassessment notices without jurisdiction when it forms the proceedin...
Transfer-pricing adjustments must be confined to international associated-enterprise transactions, while functionally dissimilar comparables remain ex...
Insolvency moratorium bars income-tax revision proceedings against corporate debtors until the moratorium ends, preserving merits for later determinat...
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 4927 
