Arrest safeguards and transit remand requirements invalidated detention following inter-State transfer without communicated grounds or magistrate auth...
Arrest safeguards require disclosed grounds, relative intimation and transit remand, while duplicate prosecution under the CGST framework is unsustain...
Document Identification Number defects can invalidate GST assessments, with delayed challenges entertained conditionally where patent irregularities e...
Windmill commissioning evidence supported higher depreciation where grid connection and electricity generation proved operational use before the relev...
Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported ...
Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual busines...
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The National Company Law Tribunal (NCLT) upheld the validity of the sale of immovable property by the respondent bank under the SARFAESI Act. The appellant company argued that its shareholder does not have ownership rights over the property. However, the NCLT held that the respondent bank acquired shares and a flat through valid SARFAESI proceedings, amounting to transmission of shares by operation of law. The NCLAT relied on precedents to affirm that an award by an arbitrator falls within the ambit of transmission by operation of law, and the NCLT has powers to condone delays u/s 58 of the Companies Act, 2013. The NCLAT dismissed the appeal, finding no reason to interfere with the reasoned NCLT order.
The National Company Law Tribunal (NCLT) upheld the validity of the sale of immovable property by the respondent bank under the SARFAESI Act. The appellant company argued that its shareholder does not have ownership rights over the property. However, the NCLT held that the respondent bank acquired shares and a flat through valid SARFAESI proceedings, amounting to transmission of shares by operation of law. The NCLAT relied on precedents to affirm that an award by an arbitrator falls within the ambit of transmission by operation of law, and the NCLT has powers to condone delays u/s 58 of the Companies Act, 2013. The NCLAT dismissed the appeal, finding no reason to interfere with the reasoned NCLT order.
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