Retrospective application of beneficial circulars upheld, binding officers and granting post adjudication relief where adjudication occurred after cir...
Admissibility of Investigation Statements requires witness examination before the adjudicating authority; otherwise statements cannot sustain a penalt...
Unauthorised dispositions during moratorium are void and any money received affecting the liquidation estate must be restored; the Liquidator alone held authority to deal with estate assets once CIRP commenced and liquidation commenced, so the Agreement to Sell dated 13.12.2019 and receipt of funds by related parties were examined for restitution. Belated criminal allegations of forgery and post order complaints do not defeat statutory restorative relief; a subsequent accounting entry claiming an unsecured loan, without supporting documents, cannot override contemporaneous facts linking payment to the sale agreement. The Adjudicating Authority's order directing deposit of the sum into the liquidation estate was upheld.
Unauthorised dispositions during moratorium are void and any money received affecting the liquidation estate must be restored; the Liquidator alone held authority to deal with estate assets once CIRP commenced and liquidation commenced, so the Agreement to Sell dated 13.12.2019 and receipt of funds by related parties were examined for restitution. Belated criminal allegations of forgery and post order complaints do not defeat statutory restorative relief; a subsequent accounting entry claiming an unsecured loan, without supporting documents, cannot override contemporaneous facts linking payment to the sale agreement. The Adjudicating Authority's order directing deposit of the sum into the liquidation estate was upheld.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
