Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Insolvency and BankruptcyMarch 11, 2024Case LawsAT
CIRP - Unsecured Financial Creditor or not - Non-registration of charge before the Registrar of Companies - the mortgaged property, will form part of the Liquidation Estate or not - The tribunal recognized the appellant's mortgage rights, stating that non-registration of the mortgage under Section 77 of the Companies Act, 2013, does not invalidate the appellant's status as a secured creditor. It emphasized the rights of a mortgagee under the Transfer of Property Act, 1882, and the SARFAESI Act, 2002, should not be diluted by regulatory provisions introduced later. - The tribunal set aside the adjudicating authority's order, which had classified the appellant as an unsecured creditor, and recognized the appellant's status as a secured creditor.
CIRP - Unsecured Financial Creditor or not - Non-registration of charge before the Registrar of Companies - the mortgaged property, will form part of the Liquidation Estate or not - The tribunal recognized the appellant's mortgage rights, stating that non-registration of the mortgage under Section 77 of the Companies Act, 2013, does not invalidate the appellant's status as a secured creditor. It emphasized the rights of a mortgagee under the Transfer of Property Act, 1882, and the SARFAESI Act, 2002, should not be diluted by regulatory provisions introduced later. - The tribunal set aside the adjudicating authority's order, which had classified the appellant as an unsecured creditor, and recognized the appellant's status as a secured creditor.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4790
Join Channel
TaxTMI 
