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...
Adjudicatory authority rejected claimed interest as an inadmissible component of financial debt where interest at 24% p.a. compounded monthly was unsupported by bona fide documentation. Related-party advances lacked board resolutions, were not registered as a charge with RoC, and interest was not reflected in the corporate debtor's books; repayment terms were unset. The tribunal accepted these factual and accounting defects and upheld disallowance of the disputed interest, dismissing the appeal and affirming the liquidator's position.
Adjudicatory authority rejected claimed interest as an inadmissible component of financial debt where interest at 24% p.a. compounded monthly was unsupported by bona fide documentation. Related-party advances lacked board resolutions, were not registered as a charge with RoC, and interest was not reflected in the corporate debtor's books; repayment terms were unset. The tribunal accepted these factual and accounting defects and upheld disallowance of the disputed interest, dismissing the appeal and affirming the liquidator's position.
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