Unlawful outward remittances via Hawala using proforma invoices and electronic records proved; documents admitted, directors penalised, penalties redu...
Attachment of equivalent-value properties as proceeds of crime upheld; preventive attachment order and confirmation sustained; no independent ED reinv...
Broker trading-system "technical glitch" redefinition and narrowed incident-reporting regime for large IBT/STWT brokers requiring 2-hr notice and 14-w...
Approval of a scheme of arrangement was sustained where creditor majorities in value and number approved the compromise; the challenger lacked the statutory voting threshold and therefore had no locus to contest the scheme, resulting in dismissal of the appeal. The tribunal reasoned that a duly sanctioned compromise is binding on all stakeholders under the Companies Act, and the scheme limited entitlements to a defined class of creditors without purporting to exercise criminal or civil court powers; accordingly statutory rights under other Acts were not displaced. Prior authority supporting threshold-based locus and examination of MPID-related concerns were noted but did not alter the result.
Approval of a scheme of arrangement was sustained where creditor majorities in value and number approved the compromise; the challenger lacked the statutory voting threshold and therefore had no locus to contest the scheme, resulting in dismissal of the appeal. The tribunal reasoned that a duly sanctioned compromise is binding on all stakeholders under the Companies Act, and the scheme limited entitlements to a defined class of creditors without purporting to exercise criminal or civil court powers; accordingly statutory rights under other Acts were not displaced. Prior authority supporting threshold-based locus and examination of MPID-related concerns were noted but did not alter the result.
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