Benami transaction and beneficial ownership: documentary and circumstantial evidence show payors were true beneficiaries, resulting in PBPTA consequen...
Denial of Preferential Treatment under SAFTA overturned where unchallenged Country of Origin certificate warranted exemption under Notification benefi...
Maintainability of insolvency petitions by real estate allottees was examined, rejecting the corporate debtor's contention that the allottees were speculative investors where prior consent terms had already treated them as financial creditors, and holding that breach of settlement does not preclude a Section 7 application. The corporate debtor bears the burden to prove allotted unit numbers for threshold assessment. The matter is remanded for the adjudicating authority to determine whether the allottee applicants meet the statutory numerical threshold, with liberty granted to the corporate debtor and allottees to file additional affidavits and replies and for consequential orders if the threshold is satisfied.
Maintainability of insolvency petitions by real estate allottees was examined, rejecting the corporate debtor's contention that the allottees were speculative investors where prior consent terms had already treated them as financial creditors, and holding that breach of settlement does not preclude a Section 7 application. The corporate debtor bears the burden to prove allotted unit numbers for threshold assessment. The matter is remanded for the adjudicating authority to determine whether the allottee applicants meet the statutory numerical threshold, with liberty granted to the corporate debtor and allottees to file additional affidavits and replies and for consequential orders if the threshold is satisfied.
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