Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
HC held that a cash credit account cannot be provisionally attached under Section 83 of MGST Act, as it represents a bank liability rather than a property belonging to the account holder. The court determined that the statutory language of "any property including bank account" does not encompass cash credit accounts. Relying on precedential decisions from Gujarat and Calcutta HCs, the court ruled the provisional attachment order as unauthorized, arbitrary, and illegal. The petition was consequently allowed, quashing the impugned order and preventing the attachment of the cash credit account.
HC held that a cash credit account cannot be provisionally attached under Section 83 of MGST Act, as it represents a bank liability rather than a property belonging to the account holder. The court determined that the statutory language of "any property including bank account" does not encompass cash credit accounts. Relying on precedential decisions from Gujarat and Calcutta HCs, the court ruled the provisional attachment order as unauthorized, arbitrary, and illegal. The petition was consequently allowed, quashing the impugned order and preventing the attachment of the cash credit account.
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