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 ruled that the CJM possesses authority to extend the period of Writ of Commission beyond the initial 90-day limit for taking possession of secured assets under Section 14 of the SARFAESI Act, 2002, without requiring financial institutions to file fresh applications. The petitioner financial institution challenged the CJM's practice of refusing extensions and mandating new Section 14 applications after the 90-day period expired. Relying on SC precedent in NKGSB Co-operative Bank Limited v. Subir Chakravarty, the HC held that once an order directing a Court Commissioner to deliver possession is passed, the CJM may grant extensions if execution cannot be completed within the prescribed timeframe. The application was disposed of, affirming the CJM's discretionary power to extend commission periods.
The HC ruled that the CJM possesses authority to extend the period of Writ of Commission beyond the initial 90-day limit for taking possession of secured assets under Section 14 of the SARFAESI Act, 2002, without requiring financial institutions to file fresh applications. The petitioner financial institution challenged the CJM's practice of refusing extensions and mandating new Section 14 applications after the 90-day period expired. Relying on SC precedent in NKGSB Co-operative Bank Limited v. Subir Chakravarty, the HC held that once an order directing a Court Commissioner to deliver possession is passed, the CJM may grant extensions if execution cannot be completed within the prescribed timeframe. The application was disposed of, affirming the CJM's discretionary power to extend commission periods.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
