Business upkeep expenses despite no revenue, director's interest-free advances, and property gift additions-disallowances and notional interest delete...
Insolvency resolution plan's loan assignment between approving and dissenting creditors: post-approval redistribution blocked; original distribution e...
The text addresses provisional attachment of property alleged to be purchased using proceeds of crime through a bank loan, focusing on beneficial ownership and benami transactions. It explains that accommodated LC discounting transactions were used to generate illicit funds, that recorded witness statements implicated the arranger and beneficiaries, and that loan disbursement and EMI repayments were effected by unexplained cash deposits traced to the arranger. On that factual matrix the adjudicating authority confirmed attachment and the appeal was dismissed.
The text addresses provisional attachment of property alleged to be purchased using proceeds of crime through a bank loan, focusing on beneficial ownership and benami transactions. It explains that accommodated LC discounting transactions were used to generate illicit funds, that recorded witness statements implicated the arranger and beneficiaries, and that loan disbursement and EMI repayments were effected by unexplained cash deposits traced to the arranger. On that factual matrix the adjudicating authority confirmed attachment and the appeal was dismissed.
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