Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
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Wilful misconduct - Scope of judicial review limited - Seeking removal of Resolution Professional, providing documents for objections to Resolution plan, disqualifying proposed Resolution applicant, and action against petitioner for alleged fraudulent transactions - Court held that once Resolution Professional found guilty of breach, there was no occasion for the Board to take a lenient view, especially as violations went to the root of the matter - Court cannot reappraise facts as if sitting in appeal, merely because alternate punishment seems more appropriate - Resolution Professional cautioned and warned to be careful in future, with repetition treated as willful negligence - Clarified that Insolvency and Bankruptcy Code allows single-member Disciplinary Committee - No infirmity or irregularity in constitution of single-member Committee, no malafide alleged - No merit in argument that petitioners should have been afforded personal hearing by Disciplinary Committee prior to decision on complaint - Petition disposed of.
Wilful misconduct - Scope of judicial review limited - Seeking removal of Resolution Professional, providing documents for objections to Resolution plan, disqualifying proposed Resolution applicant, and action against petitioner for alleged fraudulent transactions - Court held that once Resolution Professional found guilty of breach, there was no occasion for the Board to take a lenient view, especially as violations went to the root of the matter - Court cannot reappraise facts as if sitting in appeal, merely because alternate punishment seems more appropriate - Resolution Professional cautioned and warned to be careful in future, with repetition treated as willful negligence - Clarified that Insolvency and Bankruptcy Code allows single-member Disciplinary Committee - No infirmity or irregularity in constitution of single-member Committee, no malafide alleged - No merit in argument that petitioners should have been afforded personal hearing by Disciplinary Committee prior to decision on complaint - Petition disposed of.
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