Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
The crux of the matter revolves around allegations of oppression, mismanagement, illegal sale of company land, allotment of equity shares, appointment and removal of directors, and the legality of extraordinary general meetings and resolutions. The key findings are: the sale of land parcels at a lower price, though below market value, does not constitute oppression or mismanagement as the company urgently required funds, and the petitioner had consented to the sale price. The lease deed with Padmavatahi Ispat, though signed, was never executed and subsequently cancelled, hence not amounting to oppression. The allotment of 17,29,000 equity shares to respondents is held to be legal and valid. The acts of respondents are not prejudicial or oppressive to petitioners, nor are the company's affairs conducted prejudicially. Consequently, the petition lacks merit and is dismissed by the Tribunal.
The crux of the matter revolves around allegations of oppression, mismanagement, illegal sale of company land, allotment of equity shares, appointment and removal of directors, and the legality of extraordinary general meetings and resolutions. The key findings are: the sale of land parcels at a lower price, though below market value, does not constitute oppression or mismanagement as the company urgently required funds, and the petitioner had consented to the sale price. The lease deed with Padmavatahi Ispat, though signed, was never executed and subsequently cancelled, hence not amounting to oppression. The allotment of 17,29,000 equity shares to respondents is held to be legal and valid. The acts of respondents are not prejudicial or oppressive to petitioners, nor are the company's affairs conducted prejudicially. Consequently, the petition lacks merit and is dismissed by the Tribunal.
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