Benami transaction and beneficial ownership: documentary and circumstantial evidence show payors were true beneficiaries, resulting in PBPTA consequen...
Denial of Preferential Treatment under SAFTA overturned where unchallenged Country of Origin certificate warranted exemption under Notification benefi...
Continuing offence of money-laundering: discharge set aside and proceedings reinstated where laundering continued after inclusion of predicate offence...
Admission of a Section 7 petition was upheld where financial debt and default were established by undisputed records and acknowledgements, so admission at the summary stage was proper. The adjudicating authority's role at admission is confined to existence of debt and default; Vidarbha-type viability inquiries were not warranted absent concrete contemporaneous evidence extinguishing the debt. A prior dismissal based on a quashed regulatory circular did not attract res judicata to bar the fresh petition under the revised RBI framework. The RBI framework did not prohibit filing and lender resolution choices are commercial; allegations of creditor misconduct were unproven and did not negate debt or default.
Admission of a Section 7 petition was upheld where financial debt and default were established by undisputed records and acknowledgements, so admission at the summary stage was proper. The adjudicating authority's role at admission is confined to existence of debt and default; Vidarbha-type viability inquiries were not warranted absent concrete contemporaneous evidence extinguishing the debt. A prior dismissal based on a quashed regulatory circular did not attract res judicata to bar the fresh petition under the revised RBI framework. The RBI framework did not prohibit filing and lender resolution choices are commercial; allegations of creditor misconduct were unproven and did not negate debt or default.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4819 
Join Channel 
