Section 47-A undervaluation threshold: fraudulent intent requirement faces reconsideration after referral to a larger Bench for authoritative resoluti...
RBI supersession powers over multi-State co-operative banks operate independently of the constitutional six-month ceiling and permit statutory extensi...
Charitable sports promotion: sponsorship receipts alone did not defeat registration where funds supported tournaments and player development activitie...
Overdue associated-enterprise receivables: debt-free status defeated notional-interest adjustment, while employee stock-option costs qualified as busi...
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Section 24 requires the Initiating Officer to first issue notice to the alleged benamidar, disclose the reasons for believing the property is benami, and only then seek prior approval for provisional attachment. The Approving Authority must assess the notice and supporting material; approval obtained before notice is mechanical and contrary to the statutory scheme. Accordingly, the confirmed provisional attachment of the jewellery was set aside, while fresh proceedings in accordance with law and all available objections were left open.
Section 24 requires the Initiating Officer to first issue notice to the alleged benamidar, disclose the reasons for believing the property is benami, and only then seek prior approval for provisional attachment. The Approving Authority must assess the notice and supporting material; approval obtained before notice is mechanical and contrary to the statutory scheme. Accordingly, the confirmed provisional attachment of the jewellery was set aside, while fresh proceedings in accordance with law and all available objections were left open.
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