Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
The HC quashed and set aside the Appellate Order, the dismissal of the revocation application and the order of cancellation of registration, finding a breach of the principles of natural justice in that no hearing was afforded and the notices and orders lacked reasons. The matter is remitted with liberty to R2 to issue a fresh show-cause notice specifying particulars and reasons, to afford P a reasonable opportunity of hearing, and thereafter to pass a reasoned speaking order on the merits. The petition is allowed solely on natural justice grounds, following the Court's analogous reasoning in the coordinate bench authority.
The HC quashed and set aside the Appellate Order, the dismissal of the revocation application and the order of cancellation of registration, finding a breach of the principles of natural justice in that no hearing was afforded and the notices and orders lacked reasons. The matter is remitted with liberty to R2 to issue a fresh show-cause notice specifying particulars and reasons, to afford P a reasonable opportunity of hearing, and thereafter to pass a reasoned speaking order on the merits. The petition is allowed solely on natural justice grounds, following the Court's analogous reasoning in the coordinate bench authority.
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