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...
The complaint by a Deputy Registrar was held maintainable under the Companies Act, but the prosecution was barred on substantive grounds: the alleged offence involved omission rather than a deliberate false statement, so the mens rea element for a Section 448-type false statement offence is absent, and the complaint contains no specific allegation of knowing falsity. Separately, the company was not arraigned and vicarious liability of directors cannot be imposed absent statutory provision and the company as primary offender; continuation would be abuse of process and the proceedings against the petitioner were quashed.
The complaint by a Deputy Registrar was held maintainable under the Companies Act, but the prosecution was barred on substantive grounds: the alleged offence involved omission rather than a deliberate false statement, so the mens rea element for a Section 448-type false statement offence is absent, and the complaint contains no specific allegation of knowing falsity. Separately, the company was not arraigned and vicarious liability of directors cannot be imposed absent statutory provision and the company as primary offender; continuation would be abuse of process and the proceedings against the petitioner were quashed.
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