Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
The NCLAT disposed the appeal by remanding the matter for fresh consideration and directed referral to the President of the NCLT under Rule 60(3) and Section 419(5) for constitution of a three-member Bench to resolve a conflict between the Judicial and Technical Members' concurrent writings. The Tribunal observed the Judicial Member made an interim order absolute which the Technical Member did not, and that factual/legal questions regarding the JVA and assignment require detailed adjudication beyond summary proceedings under the Code. The appeal is therefore disposed by way of remand; parties are directed to appear before the NCLT President on 7 October 2025 for placement before the third Member.
The NCLAT disposed the appeal by remanding the matter for fresh consideration and directed referral to the President of the NCLT under Rule 60(3) and Section 419(5) for constitution of a three-member Bench to resolve a conflict between the Judicial and Technical Members' concurrent writings. The Tribunal observed the Judicial Member made an interim order absolute which the Technical Member did not, and that factual/legal questions regarding the JVA and assignment require detailed adjudication beyond summary proceedings under the Code. The appeal is therefore disposed by way of remand; parties are directed to appear before the NCLT President on 7 October 2025 for placement before the third Member.
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