PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
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The HC affirms the impugned order and dismisses the appeal. The court held that the Official Liquidator, acting pursuant to statutory duty, incurred bona fide preservation and security expenses in reliance on the appellant's officers' statements and court undertakings identifying the subject property as an asset of the company in liquidation. The appellant is estopped and barred by waiver from repudiating those unchallenged undertakings and court orders, and its unexplained, belated objection cannot vitiate the lawful actions of the Official Liquidator. Misrepresentation or suppression by officers undermines the liquidation process and attracts civil and penal consequences. The HC found the Official Liquidator's actions reasonable and justified, and affirmed the impugned order dated 20.04.2022.
The HC affirms the impugned order and dismisses the appeal. The court held that the Official Liquidator, acting pursuant to statutory duty, incurred bona fide preservation and security expenses in reliance on the appellant's officers' statements and court undertakings identifying the subject property as an asset of the company in liquidation. The appellant is estopped and barred by waiver from repudiating those unchallenged undertakings and court orders, and its unexplained, belated objection cannot vitiate the lawful actions of the Official Liquidator. Misrepresentation or suppression by officers undermines the liquidation process and attracts civil and penal consequences. The HC found the Official Liquidator's actions reasonable and justified, and affirmed the impugned order dated 20.04.2022.
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