Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
The Company Court's jurisdiction was treated as surviving after a winding-up order, because post-winding-up arrangements that displaced the Official Liquidator's control could still be examined and, if necessary, undone under the court's inherent powers and the Companies Act, 1956. The challenge based on delay was not held to be fatal at this stage, as the alleged fraud and continuing acts were treated prima facie as giving rise to a continuing cause of action, leaving limitation for final determination. Ad interim stay was refused on balance of convenience, absence of a meaningful change in circumstances, and judicial propriety.
The Company Court's jurisdiction was treated as surviving after a winding-up order, because post-winding-up arrangements that displaced the Official Liquidator's control could still be examined and, if necessary, undone under the court's inherent powers and the Companies Act, 1956. The challenge based on delay was not held to be fatal at this stage, as the alleged fraud and continuing acts were treated prima facie as giving rise to a continuing cause of action, leaving limitation for final determination. Ad interim stay was refused on balance of convenience, absence of a meaningful change in circumstances, and judicial propriety.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
