Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
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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