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...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
Claims founded on assessments completed after the moratorium are barred from admission in CIRP under the moratorium doctrine; accordingly postmoratorium EPFO assessmentbased demands cannot be admitted and the appeal challenging the resolution plan was dismissed. The resolution professional had recorded the provident fund claim despite improper format, included it in the Information Memorandum, and the resolution plan provided a lower payout; the tribunal treated the inclusion and commercial judgment of the committee of creditors as operative and distinguishable from precedent where claims were ignored. Absence of contemporaneous PF deductions in company records supported exclusion of the postmoratorium assessment claim.
Claims founded on assessments completed after the moratorium are barred from admission in CIRP under the moratorium doctrine; accordingly postmoratorium EPFO assessmentbased demands cannot be admitted and the appeal challenging the resolution plan was dismissed. The resolution professional had recorded the provident fund claim despite improper format, included it in the Information Memorandum, and the resolution plan provided a lower payout; the tribunal treated the inclusion and commercial judgment of the committee of creditors as operative and distinguishable from precedent where claims were ignored. Absence of contemporaneous PF deductions in company records supported exclusion of the postmoratorium assessment claim.
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