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...
Invocation of a corporate guarantee on 12.02.2020 triggered a fresh cause of action, starting the threeyear limitation period, and balance sheet entries in 202122 and 202324 constituted acknowledgements under Section 18 of the Limitation Act, thereby extending limitation and rendering the petition filed on 14.04.2025 timely. The insolvency petition's Form1 contained pleaded particulars of debt and date of default; the Adjudicating Authority correctly treated the application as complete and admitted it. Realisations recorded in liquidation and a related corporate guarantor's resolution process were public and did not amount to suppression. The appellate tribunal dismissed the challenge to admission.
Invocation of a corporate guarantee on 12.02.2020 triggered a fresh cause of action, starting the threeyear limitation period, and balance sheet entries in 202122 and 202324 constituted acknowledgements under Section 18 of the Limitation Act, thereby extending limitation and rendering the petition filed on 14.04.2025 timely. The insolvency petition's Form1 contained pleaded particulars of debt and date of default; the Adjudicating Authority correctly treated the application as complete and admitted it. Realisations recorded in liquidation and a related corporate guarantor's resolution process were public and did not amount to suppression. The appellate tribunal dismissed the challenge to admission.
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