Retrospective application of beneficial circulars upheld, binding officers and granting post adjudication relief where adjudication occurred after cir...
Admissibility of Investigation Statements requires witness examination before the adjudicating authority; otherwise statements cannot sustain a penalt...
An execution application seeking impleadment of additional respondents and questioning the dissolution of the award-debtor company on allegations of fraud and misrepresentation was held non-maintainable for want of jurisdiction. Issues arising out of or in relation to insolvency resolution/liquidation, including whether a dissolution order was procured by fraud or whether funds were misappropriated, fall within the wide residuary jurisdiction of the NCLT under s.60(5)(c) IBC, with penalties for fraud contemplated under s.65, and civil court jurisdiction is expressly barred by ss.63 and 231 IBC. Further, an executing court cannot go behind the decree or the dissolution order unless set aside in appropriate proceedings. The execution and interim applications were dismissed - HC
An execution application seeking impleadment of additional respondents and questioning the dissolution of the award-debtor company on allegations of fraud and misrepresentation was held non-maintainable for want of jurisdiction. Issues arising out of or in relation to insolvency resolution/liquidation, including whether a dissolution order was procured by fraud or whether funds were misappropriated, fall within the wide residuary jurisdiction of the NCLT under s.60(5)(c) IBC, with penalties for fraud contemplated under s.65, and civil court jurisdiction is expressly barred by ss.63 and 231 IBC. Further, an executing court cannot go behind the decree or the dissolution order unless set aside in appropriate proceedings. The execution and interim applications were dismissed - HC
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