Retrospective cancellation of charitable registration under section 12AB(4) was unsustainable; related-party benefit allegations did not prove nongenu...
Merger control notice and disclosure rules: Supreme Court limits penalties, rejects reopening of approved combination, and sets aside adverse findings...
Scope of the term “Principal Officer” of the company for the purposes of initiating prosecution u/s 276B - The High Court opinioned that merely because a person holds an office in a corporate entity would not be sufficient to place that individual in clause (b). The intention of the respondent to treat an individual as the “Principal Officer” must be based on it being satisfied that the person was connected with the management or administration of the company. - The court finds that the respondents failed to establish the petitioner's connection with the management or administration of the company based on the evidence presented. Therefore, the impugned orders are set aside and restored back for fresh adjudication.
Scope of the term “Principal Officer” of the company for the purposes of initiating prosecution u/s 276B - The High Court opinioned that merely because a person holds an office in a corporate entity would not be sufficient to place that individual in clause (b). The intention of the respondent to treat an individual as the “Principal Officer” must be based on it being satisfied that the person was connected with the management or administration of the company. - The court finds that the respondents failed to establish the petitioner's connection with the management or administration of the company based on the evidence presented. Therefore, the impugned orders are set aside and restored back for fresh adjudication.
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