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...
Natural justice was not violated in summary insolvency proceedings because the personal guarantor had opportunity to participate and provide explanations to the resolution professional, whose report was considered by the Adjudicating Authority; appeal dismissed on that ground. Pre existing commercial disputes do not bar admission of a petition under the insolvency code in Part III proceedings, and a later filed suit was immaterial. Insufficient stamping of the guarantee was held immaterial in summary IBC adjudication. The debtor's execution of the guarantee, disbursement, recall and demand notices established debt and default; the Adjudicating Authority's admission order is sustained and the appeal is dismissed.
Natural justice was not violated in summary insolvency proceedings because the personal guarantor had opportunity to participate and provide explanations to the resolution professional, whose report was considered by the Adjudicating Authority; appeal dismissed on that ground. Pre existing commercial disputes do not bar admission of a petition under the insolvency code in Part III proceedings, and a later filed suit was immaterial. Insufficient stamping of the guarantee was held immaterial in summary IBC adjudication. The debtor's execution of the guarantee, disbursement, recall and demand notices established debt and default; the Adjudicating Authority's admission order is sustained and the appeal is dismissed.
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