Mechanical approval under search assessment law vitiates assessments when sanction lacks application of mind; retrospective curative provision cannot ...
Foreign portfolio investment liberalisation extends listed equity access to all individual persons resident outside India, subject to limit monitoring...
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An insolvency application filed in the name of a company that had already amalgamated and ceased to exist was held not maintainable because the applicant lacked any subsisting juristic existence on the date of institution. The earlier scheme approving amalgamation had dissolved the transferor company without winding up, and a later order on the effective date did not revive juristic status in the name used for the Section 9 filing. In the absence of material showing that the named applicant continued in law when proceedings were initiated, dismissal of the company petition as not maintainable was affirmed.
An insolvency application filed in the name of a company that had already amalgamated and ceased to exist was held not maintainable because the applicant lacked any subsisting juristic existence on the date of institution. The earlier scheme approving amalgamation had dissolved the transferor company without winding up, and a later order on the effective date did not revive juristic status in the name used for the Section 9 filing. In the absence of material showing that the named applicant continued in law when proceedings were initiated, dismissal of the company petition as not maintainable was affirmed.
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