Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
The HC quashed SEBI's revocation order of a settlement agreement involving entities accused of misrepresenting promoter holdings and violating minimum public shareholding requirements under LODR Regulations. The court held that SEBI's one-line revocation order, passed fourteen months after the original settlement without providing reasons or opportunity of hearing, violated principles of natural justice, specifically audi alteram partem. Despite SEBI's contention that automatic revocation applied under Regulation 28 for non-compliance, the court found the regulator had continued engaging with the petitioners for fourteen months, acknowledging their difficulties in compliance due to interim court orders. The non-speaking, unreasoned revocation order was deemed unsustainable and prejudicial. The matter was remanded to SEBI for reconsideration with mandatory opportunity of hearing and reasoned decision-making.
The HC quashed SEBI's revocation order of a settlement agreement involving entities accused of misrepresenting promoter holdings and violating minimum public shareholding requirements under LODR Regulations. The court held that SEBI's one-line revocation order, passed fourteen months after the original settlement without providing reasons or opportunity of hearing, violated principles of natural justice, specifically audi alteram partem. Despite SEBI's contention that automatic revocation applied under Regulation 28 for non-compliance, the court found the regulator had continued engaging with the petitioners for fourteen months, acknowledging their difficulties in compliance due to interim court orders. The non-speaking, unreasoned revocation order was deemed unsustainable and prejudicial. The matter was remanded to SEBI for reconsideration with mandatory opportunity of hearing and reasoned decision-making.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
