Condonation of Delay: Tribunal directed condonation where rectification proceedings were pursued, ordering merits adjudication after opportunity to be...
Restriction of Input Tax Credit under Rule 86A applies only to fraudulently or ineligible availed credit; mere wrongful recipient availment is insuffi...
Unregistered agreement for sale does not confer title; the court treated Eyelid's reliance on such an instrument as insufficient to require the official liquidator to disclaim onerous property or to execute and register conveyance, particularly given absence at possession, municipal records not recognising Eyelid, doubts as to document authenticity and circular payments. The court nevertheless granted Eyelid liberty to seek leave to institute civil proceedings under the Companies Act to establish rights, without conferring substantive relief. Salasar's pre emption/right to match the highest bid will be considered only if it actually matches the highest auction bid.
Unregistered agreement for sale does not confer title; the court treated Eyelid's reliance on such an instrument as insufficient to require the official liquidator to disclaim onerous property or to execute and register conveyance, particularly given absence at possession, municipal records not recognising Eyelid, doubts as to document authenticity and circular payments. The court nevertheless granted Eyelid liberty to seek leave to institute civil proceedings under the Companies Act to establish rights, without conferring substantive relief. Salasar's pre emption/right to match the highest bid will be considered only if it actually matches the highest auction bid.
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