Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Grant of anticipatory bail to an accused for alleged wrongful utilisation of input tax credit was ordered; custodial interrogation was declined because detention would adversely affect business and the alleged amount (~Rs.10 Crores) attracts a maximum five-year sentence, while compounding of offences remains available, so prosecution may be avoidable. Bail was permitted under the courts inherent powers subject to furnishing of bond and compliance with specified restrictive and cooperative conditions. The court noted double jeopardy concerns and recorded the possibility of compounding without directing custody.
Grant of anticipatory bail to an accused for alleged wrongful utilisation of input tax credit was ordered; custodial interrogation was declined because detention would adversely affect business and the alleged amount (~Rs.10 Crores) attracts a maximum five-year sentence, while compounding of offences remains available, so prosecution may be avoidable. Bail was permitted under the courts inherent powers subject to furnishing of bond and compliance with specified restrictive and cooperative conditions. The court noted double jeopardy concerns and recorded the possibility of compounding without directing custody.
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