Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
A post-disposal miscellaneous application cannot be used to recall a final non-speaking order dismissing an SLP once the Court has become functus officio; only narrow exceptions such as clerical correction or inability to implement executory directions may justify such relief, so the recall application was dismissed as not maintainable. Alleged suppression, fraud, and later insolvency developments could not be raised collaterally to unsettle final disposal in a different proceeding, though separate remedies before the competent forum remained open. In matters involving withdrawal under Section 12A of the IBC, the choice between settlement options falls within the Committee of Creditors' commercial wisdom, subject only to limited judicial review, so the Court declined to compare competing offers or interfere with that decision.
A post-disposal miscellaneous application cannot be used to recall a final non-speaking order dismissing an SLP once the Court has become functus officio; only narrow exceptions such as clerical correction or inability to implement executory directions may justify such relief, so the recall application was dismissed as not maintainable. Alleged suppression, fraud, and later insolvency developments could not be raised collaterally to unsettle final disposal in a different proceeding, though separate remedies before the competent forum remained open. In matters involving withdrawal under Section 12A of the IBC, the choice between settlement options falls within the Committee of Creditors' commercial wisdom, subject only to limited judicial review, so the Court declined to compare competing offers or interfere with that decision.
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