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...
Whether spectrum licensing rights fall within the corporate insolvency estate under the IBC: the article states that spectrum is a public resource held in trust and that Spectrum Trading Guidelines reserve comprehensive supervisory and corrective control to the State (including annulment of trades and recovery of dues), showing trading is a conditional privilege rather than a transferred proprietary title. IBC applies only to assets owned by the corporate debtor as recorded; mere recognition of licensing rights in financial statements does not create ownership. Consequently, telecom statutes and regulatory regime occupy the legal province over spectrum and spectrum licensing rights cannot be subjected to IBC proceedings.
Whether spectrum licensing rights fall within the corporate insolvency estate under the IBC: the article states that spectrum is a public resource held in trust and that Spectrum Trading Guidelines reserve comprehensive supervisory and corrective control to the State (including annulment of trades and recovery of dues), showing trading is a conditional privilege rather than a transferred proprietary title. IBC applies only to assets owned by the corporate debtor as recorded; mere recognition of licensing rights in financial statements does not create ownership. Consequently, telecom statutes and regulatory regime occupy the legal province over spectrum and spectrum licensing rights cannot be subjected to IBC proceedings.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4816 
Join Channel 
