Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
The principal issue was whether shareholders have standing to file appeals under Section 61 of the IBC and to seek remedies under Section 65 for alleged malicious proceedings. Relying on a Larger Bench precedent that shareholders possess only limited rights tied to equity investment and no independent statutory right to maintain appeals under Section 61, the Tribunal held shareholders cannot independently challenge approval of a resolution plan; consequently the appeals were dismissed as not maintainable. The Section 65 relief claimed by shareholders likewise failed for want of locus standi, and related interlocutory applications were closed. - NCLAT
The principal issue was whether shareholders have standing to file appeals under Section 61 of the IBC and to seek remedies under Section 65 for alleged malicious proceedings. Relying on a Larger Bench precedent that shareholders possess only limited rights tied to equity investment and no independent statutory right to maintain appeals under Section 61, the Tribunal held shareholders cannot independently challenge approval of a resolution plan; consequently the appeals were dismissed as not maintainable. The Section 65 relief claimed by shareholders likewise failed for want of locus standi, and related interlocutory applications were closed. - NCLAT
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