Inventory write-off and fraudulent/wrongful trading allegations in corporate insolvency led to director liability principles applied and appeal dismis...
Condonation of delay in filing GSTR-3B returns and entitlement to Section 62 benefit results in withdrawal of assessments and revocation of attachment...
Attachment of mortgaged property under the PMLA was not invalid merely because a secured creditor held a prior charge. The Tribunal applied a harmonious construction between the PMLA and secured creditor regimes, holding that a prior mortgage does not by itself bar attachment, while the creditor's bona fide security interest is not extinguished and may be pursued in accordance with law, including before the Special Court. It also rejected the challenge that the property could not be attached because it pre-dated the alleged criminal activity, finding on the record that the relevant criminal conduct commenced before the property was acquired. The attachment was therefore sustained.
Attachment of mortgaged property under the PMLA was not invalid merely because a secured creditor held a prior charge. The Tribunal applied a harmonious construction between the PMLA and secured creditor regimes, holding that a prior mortgage does not by itself bar attachment, while the creditor's bona fide security interest is not extinguished and may be pursued in accordance with law, including before the Special Court. It also rejected the challenge that the property could not be attached because it pre-dated the alleged criminal activity, finding on the record that the relevant criminal conduct commenced before the property was acquired. The attachment was therefore sustained.
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