Unlawful outward remittances via Hawala using proforma invoices and electronic records proved; documents admitted, directors penalised, penalties redu...
Attachment of equivalent-value properties as proceeds of crime upheld; preventive attachment order and confirmation sustained; no independent ED reinv...
Broker trading-system "technical glitch" redefinition and narrowed incident-reporting regime for large IBT/STWT brokers requiring 2-hr notice and 14-w...
NCLAT directed release of the fixed deposit maintained with its Registry, together with accrued interest, to the financial creditor after removal of the lien. The Tribunal held that its earlier order had left the treatment of the deposited amount to the Adjudicating Authority's order on the Section 12A settlement application. As the Adjudicating Authority had allowed the settlement, dismissed the insolvency petition as withdrawn, and specifically directed that the Registry-held amount be received by the financial creditor under the settlement agreement, that direction was binding. In the absence of any objection from the original appellant, the application for release was allowed.
NCLAT directed release of the fixed deposit maintained with its Registry, together with accrued interest, to the financial creditor after removal of the lien. The Tribunal held that its earlier order had left the treatment of the deposited amount to the Adjudicating Authority's order on the Section 12A settlement application. As the Adjudicating Authority had allowed the settlement, dismissed the insolvency petition as withdrawn, and specifically directed that the Registry-held amount be received by the financial creditor under the settlement agreement, that direction was binding. In the absence of any objection from the original appellant, the application for release was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4824 
Join Channel 
