Commodity derivatives position limits adopt revised breach penalties, broad commodity criteria, and client open-position limits based on deliverable s...
Forensic audit reports are not conclusive proof of fraud, but may support insolvency contribution liability when reliable documentary evidence substantiates their findings. Sale deeds, bank records, sub-registrar records and title-verification material supported findings that property transactions were accommodation arrangements used to raise loans. Loan proceeds substantially returned through sellers to the corporate debtor and related entities, establishing round-tripping intended to defraud creditors. Former management failed to rebut matters within its special knowledge. Ex parte determination remained valid because suspended directors received adequate opportunity to contest the proceedings and did not produce reliable contrary material. The fraudulent-transaction finding and consequential contribution direction were sustained.
Forensic audit reports are not conclusive proof of fraud, but may support insolvency contribution liability when reliable documentary evidence substantiates their findings. Sale deeds, bank records, sub-registrar records and title-verification material supported findings that property transactions were accommodation arrangements used to raise loans. Loan proceeds substantially returned through sellers to the corporate debtor and related entities, establishing round-tripping intended to defraud creditors. Former management failed to rebut matters within its special knowledge. Ex parte determination remained valid because suspended directors received adequate opportunity to contest the proceedings and did not produce reliable contrary material. The fraudulent-transaction finding and consequential contribution direction were sustained.
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TaxTMI 
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