Scope of judicial review under Article 226: supervisory, not appellate; factual reappraisal barred, challenge dismissed; insolvency professional dutie...
Courier transshipment of imported goods via named carrier to air cargo stations renewed until 30.01.2026; exemption conditional, strict controls apply...
Insurer's investment gains and investment write-downs face Section 263 revision; enquiry upheld, Rule 5(b)(ii) lapse sustained, late corrigendum quash...
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Payments of Rs. 19,66,698.77 made to a related party director within the two year look back period were treated as preferential transactions because the payments reduced the corporate debtor's liability to the related party and could not be excluded by tracing the source of funds. The tribunal held that Regulation 35A timelines are directory, not mandatory, and principles of natural justice were not breached where the adjudicating authority considered the appellant's written objections on merits despite an earlier ex parte notation. The liquidator's investigative power during liquidation to challenge preferential or undervalued transactions validated the challenge; appeals were dismissed.
Payments of Rs. 19,66,698.77 made to a related party director within the two year look back period were treated as preferential transactions because the payments reduced the corporate debtor's liability to the related party and could not be excluded by tracing the source of funds. The tribunal held that Regulation 35A timelines are directory, not mandatory, and principles of natural justice were not breached where the adjudicating authority considered the appellant's written objections on merits despite an earlier ex parte notation. The liquidator's investigative power during liquidation to challenge preferential or undervalued transactions validated the challenge; appeals were dismissed.
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