Time Relevance of Expense: commission deductible when incurred; restructuring transfers, lease obligations upheld; unenforceable sale agreement bars l...
Abuse of dominant position allegations against an exchange found not prima facie; regulator reliance on sectoral expertise upheld and no investigation...
Regulatory consolidation for investment advisers: SEBI issues master circular consolidating guidance and prescribing compliance, reporting, fees and s...
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Limitation under the I&B Code is a strict statutory regime, and a party cannot extend the appellate period by first pursuing writ proceedings instead of the prescribed appeal. The Tribunal held that where the writ petitions were filed after expiry of the original limitation period and were later not entertained due to availability of an effective alternative remedy, the time spent there could not be excluded to revive an otherwise time-barred appeal. Applying the principle that a special statute prevails over the general law, it treated the request to condone delay as beyond jurisdiction and dismissed the appeals as barred by limitation.
Limitation under the I&B Code is a strict statutory regime, and a party cannot extend the appellate period by first pursuing writ proceedings instead of the prescribed appeal. The Tribunal held that where the writ petitions were filed after expiry of the original limitation period and were later not entertained due to availability of an effective alternative remedy, the time spent there could not be excluded to revive an otherwise time-barred appeal. Applying the principle that a special statute prevails over the general law, it treated the request to condone delay as beyond jurisdiction and dismissed the appeals as barred by limitation.
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