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 affirms that alleged collusion between bank officials and the directors of the company is not foreclosed and must be adjudicated by the Special Judge, PMLA, in the trial court. The AT holds that where two statutes conflict, the later enactment prevails absent a saving clause. The liquidator of the company is granted leave to move the Special Judge, PMLA, under section 8(7) of the PMLA for permission to auction the specified property to satisfy the consortium of banks and other creditors; the liquidator must undertake to deposit any surplus realisation in an FDR with the Respondent and the Special Judge will adjudicate its disposal after conclusion of the PMLA trial. Appeal dismissed.
The AT affirms that alleged collusion between bank officials and the directors of the company is not foreclosed and must be adjudicated by the Special Judge, PMLA, in the trial court. The AT holds that where two statutes conflict, the later enactment prevails absent a saving clause. The liquidator of the company is granted leave to move the Special Judge, PMLA, under section 8(7) of the PMLA for permission to auction the specified property to satisfy the consortium of banks and other creditors; the liquidator must undertake to deposit any surplus realisation in an FDR with the Respondent and the Special Judge will adjudicate its disposal after conclusion of the PMLA trial. Appeal dismissed.
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