Regulatory consolidation for investment advisers: SEBI issues master circular consolidating guidance and prescribing compliance, reporting, fees and s...
Reopening of assessment cannot rest solely on an audit party's opinion; reassessment under Section 147/148 is impermissible and power of revision shou...
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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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