Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
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The AT dismissed the appeal challenging the provisional attachment of 20 immovable properties under the PML Act, concluding the appellant operated a Ponzi scheme through multiple entities, initially paying returns from new investors' funds before collapsing. The tribunal rejected the appellant's contention that incarceration precluded the risk of property dissipation, noting the appellant's ability to act via associates or power of attorney to frustrate proceedings. The attachment was upheld as an intermediate measure to preserve the properties for potential confiscation upon conviction, without affecting possession unless exceptional circumstances arise. The AT found no error in the Adjudicating Authority's confirmation of the attachment order, thereby affirming the restraint on the properties pending trial.
The AT dismissed the appeal challenging the provisional attachment of 20 immovable properties under the PML Act, concluding the appellant operated a Ponzi scheme through multiple entities, initially paying returns from new investors' funds before collapsing. The tribunal rejected the appellant's contention that incarceration precluded the risk of property dissipation, noting the appellant's ability to act via associates or power of attorney to frustrate proceedings. The attachment was upheld as an intermediate measure to preserve the properties for potential confiscation upon conviction, without affecting possession unless exceptional circumstances arise. The AT found no error in the Adjudicating Authority's confirmation of the attachment order, thereby affirming the restraint on the properties pending trial.
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