Electronic WhatsApp evidence without authentication or independent corroboration cannot sustain an unexplained-investment addition based on third-part...
Mutual current-account transactions excluded from deemed dividend treatment where no fresh borrowing arose; unsupported unsecured-loan addition also f...
The NCLAT set aside the adjudicating authority's mechanical admission of a Section 95 application, finding a lack of independent assessment. The tribunal emphasized that the adjudicating authority must conduct a comprehensive evaluation beyond the Resolution Professional's report, particularly considering the already realized assets under SARFAESI. The court directed a fresh opportunity for personal guarantors to file objections within 30 days, mandating the adjudicating authority to comprehensively review all materials before passing a renewed order under Section 100. The appellate tribunal remanded the matter for a de novo examination, ensuring a substantive and procedurally sound review of the insolvency proceedings.
The NCLAT set aside the adjudicating authority's mechanical admission of a Section 95 application, finding a lack of independent assessment. The tribunal emphasized that the adjudicating authority must conduct a comprehensive evaluation beyond the Resolution Professional's report, particularly considering the already realized assets under SARFAESI. The court directed a fresh opportunity for personal guarantors to file objections within 30 days, mandating the adjudicating authority to comprehensively review all materials before passing a renewed order under Section 100. The appellate tribunal remanded the matter for a de novo examination, ensuring a substantive and procedurally sound review of the insolvency proceedings.
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