Cash routed to non-existent firm deemed proceeds of crime; laundered funds and properties attachable, provisional attachments confirmed; two accounts ...
Continuation of Section 73 service-tax proceedings after provider's death (construing s.65(7)) - held to abate; posthumous OIO and recoveries invalida...
A party instituted a civil declaratory suit challenging initiation of CIRP, disputing existence of a legally enforceable debt and alleging fraud/forgery in documents including an assignment deed, while seeking to bypass the IBC framework. The Court held that although the NCLT, while admitting a Section 7 application, cannot adjudicate pre-existing disputes about the debt, the IBC vests the NCLT with jurisdiction under Sections 65, 75 and 60(5)(c) read with the NCLT Rules to examine fraud, collusion, and veracity of documents, with consequences extending to continuation of CIRP. The civil suit was an impermissible collateral attack barred by IBC ouster provisions; the plaint was rejected under Order VII Rule 11 CPC - HC
A party instituted a civil declaratory suit challenging initiation of CIRP, disputing existence of a legally enforceable debt and alleging fraud/forgery in documents including an assignment deed, while seeking to bypass the IBC framework. The Court held that although the NCLT, while admitting a Section 7 application, cannot adjudicate pre-existing disputes about the debt, the IBC vests the NCLT with jurisdiction under Sections 65, 75 and 60(5)(c) read with the NCLT Rules to examine fraud, collusion, and veracity of documents, with consequences extending to continuation of CIRP. The civil suit was an impermissible collateral attack barred by IBC ouster provisions; the plaint was rejected under Order VII Rule 11 CPC - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4814 
Join Channel 
