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...
Where proceedings under the Insolvency and Bankruptcy Code are governed by Section 424 of the Companies Act, the adjudicatory process must comply with natural justice and the prescribed procedural course. The Appellate Tribunal held that an order shown for pronouncement without a concluded hearing, without a fixed pronouncement date, without an ex parte direction, and without deciding a pending application for additional documents was procedurally defective and ex parte in substance. It further held that an application challenging such defects was a recall application, not a review, so dismissal for want of review jurisdiction was erroneous. The impugned order was quashed and the matter remitted for fresh consideration after deciding the document application, subject to costs.
Where proceedings under the Insolvency and Bankruptcy Code are governed by Section 424 of the Companies Act, the adjudicatory process must comply with natural justice and the prescribed procedural course. The Appellate Tribunal held that an order shown for pronouncement without a concluded hearing, without a fixed pronouncement date, without an ex parte direction, and without deciding a pending application for additional documents was procedurally defective and ex parte in substance. It further held that an application challenging such defects was a recall application, not a review, so dismissal for want of review jurisdiction was erroneous. The impugned order was quashed and the matter remitted for fresh consideration after deciding the document application, subject to costs.
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