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...
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NCLAT held that the NCLT committed a manifest illegality by declining release of Flat No. 2402 in "Mantri Pinnacle", Bengaluru, to the successful resolution applicant (SRA) solely on the basis of an interim order of the SC, without first determining whether the said flat was actually covered by the ED's provisional attachment order. NCLT improperly shifted the burden to the enforcement authority by granting liberty to the SRA to approach it, instead of adjudicating the specific issue of attachment. NCLAT set aside the impugned order and remanded the matter to NCLT to reconsider the application afresh, ascertain the attachment status of the property, and pass appropriate orders in accordance with law after granting due hearing to all parties.
NCLAT held that the NCLT committed a manifest illegality by declining release of Flat No. 2402 in "Mantri Pinnacle", Bengaluru, to the successful resolution applicant (SRA) solely on the basis of an interim order of the SC, without first determining whether the said flat was actually covered by the ED's provisional attachment order. NCLT improperly shifted the burden to the enforcement authority by granting liberty to the SRA to approach it, instead of adjudicating the specific issue of attachment. NCLAT set aside the impugned order and remanded the matter to NCLT to reconsider the application afresh, ascertain the attachment status of the property, and pass appropriate orders in accordance with law after granting due hearing to all parties.
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