Section 54 construction relief survives pre-transfer commencement when completion occurs within the statutory period, excluding ineligible spouse-owne...
Fraud classification show-cause notices founded on inconclusive forensic audit material cannot sustain action, permitting fresh proceedings on conclus...
Appellate enhancement limits protect against new income sources, while documented credits and prior-year investments resist unexplained-income additio...
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Personal guarantor insolvency resolution applications must pursue a genuine repayment plan and cannot use the interim moratorium to obstruct secured-creditor enforcement of security interests. Failure to attempt repayment after a demand notice, coupled with filings made immediately after possession notices, indicates that the process is being used to stall recovery rather than achieve resolution. Section 94 is intended for personal guarantors genuinely seeking a repayment-based insolvency resolution process; use of Section 96 as a shield against SARFAESI possession proceedings constitutes misuse. On these facts, rejection of the second insolvency application and dismissal of the appeal were upheld.
Personal guarantor insolvency resolution applications must pursue a genuine repayment plan and cannot use the interim moratorium to obstruct secured-creditor enforcement of security interests. Failure to attempt repayment after a demand notice, coupled with filings made immediately after possession notices, indicates that the process is being used to stall recovery rather than achieve resolution. Section 94 is intended for personal guarantors genuinely seeking a repayment-based insolvency resolution process; use of Section 96 as a shield against SARFAESI possession proceedings constitutes misuse. On these facts, rejection of the second insolvency application and dismissal of the appeal were upheld.
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