Corporate insolvency resolution process amended with expanded disclosure, guarantor asset transfer rules, and new dissolution and restoration procedur...
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HC determined that the undated demand order was procedurally defective under Section 75(6), lacking substantive reasoning beyond referencing a show cause notice. The court remanded the matter to the respondent, directing them to provide the petitioner an opportunity to respond to the original show cause notice within four weeks. Following the petitioner's response, the respondent must conduct a hearing and issue a legally compliant order. The petition was allowed through judicial remand, requiring procedural rectification of the original administrative action.
HC determined that the undated demand order was procedurally defective under Section 75(6), lacking substantive reasoning beyond referencing a show cause notice. The court remanded the matter to the respondent, directing them to provide the petitioner an opportunity to respond to the original show cause notice within four weeks. Following the petitioner's response, the respondent must conduct a hearing and issue a legally compliant order. The petition was allowed through judicial remand, requiring procedural rectification of the original administrative action.
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