Religious purpose exclusion versus charitable purpose: non overriding religious objects do not attract Explanation 3, registration directed under sect...
Search-assessment proviso jurisdiction, time-barred valuation reports, and denial of cross-examination vitiate valuation-based and confession-based ad...
The Lease Deed dated 24.09.2007 was held unenforceable because it was not executed by persons shown to be authorised to bind the purported grantors and because the Corporate Debtor failed to prove payment of the upfront consideration and lease rent; absence of bank debits and other admissible evidence defeated the claimed transfer of leasehold rights. The Adjudicating Authority may determine whether a claimed asset belongs to the Corporate Debtor and declare documents void or unenforceable, but it cannot conduct full trials on allegations of fraud or forgery; on these bases the disputed land and plant were excluded from the insolvency estate and the appeals dismissed.
The Lease Deed dated 24.09.2007 was held unenforceable because it was not executed by persons shown to be authorised to bind the purported grantors and because the Corporate Debtor failed to prove payment of the upfront consideration and lease rent; absence of bank debits and other admissible evidence defeated the claimed transfer of leasehold rights. The Adjudicating Authority may determine whether a claimed asset belongs to the Corporate Debtor and declare documents void or unenforceable, but it cannot conduct full trials on allegations of fraud or forgery; on these bases the disputed land and plant were excluded from the insolvency estate and the appeals dismissed.
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