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...
The appeal challenged initiation of the corporate insolvency resolution process as collusive and malicious and sought recall of admission; tribunal held the corporate debtor had validly authorised a representative by board resolution, undermining objections to representation, and found no material proving fraudulent initiation. The tribunal applied the strict standard of proof required for recalling an admission and concluded the applicant failed to meet that standard, so the adjudicating authority correctly rejected the recall application. Consequently the challenge to the Section 7 proceedings was dismissed and the admission order was maintained.
The appeal challenged initiation of the corporate insolvency resolution process as collusive and malicious and sought recall of admission; tribunal held the corporate debtor had validly authorised a representative by board resolution, undermining objections to representation, and found no material proving fraudulent initiation. The tribunal applied the strict standard of proof required for recalling an admission and concluded the applicant failed to meet that standard, so the adjudicating authority correctly rejected the recall application. Consequently the challenge to the Section 7 proceedings was dismissed and the admission order was maintained.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4816 
Join Channel 
