Condonation of delay permits statutory appeal restoration where inadequate service explanation prevented consideration of reassessment and taxable-inc...
Limitation in customs appeals permits exclusion for bona fide refund proceedings, enabling restoration of Bill of Entry assessment challenges on merit...
Warehousing permission requires deposit at the designated bonded warehouse; unauthorised diversion triggers confiscation, redemption fine and importer...
NCLAT held that initiation of perjury proceedings requires prima facie proof of a deliberate falsehood on a matter of substance, supported by distinct evidence and not mere suspicion. The resolution professional's reply affidavit, filed in defence of the CIRP steps and in response to an attempt to reopen the approved plan, did not disclose mala fides or any deceptive statement amounting to perjury, so rejection of that application was upheld. It also affirmed that an approved resolution plan under the IBC is binding on all stakeholders, and that belated attempts to unsettle an unchallenged, implemented plan were frivolous, justifying costs for abuse of process.
NCLAT held that initiation of perjury proceedings requires prima facie proof of a deliberate falsehood on a matter of substance, supported by distinct evidence and not mere suspicion. The resolution professional's reply affidavit, filed in defence of the CIRP steps and in response to an attempt to reopen the approved plan, did not disclose mala fides or any deceptive statement amounting to perjury, so rejection of that application was upheld. It also affirmed that an approved resolution plan under the IBC is binding on all stakeholders, and that belated attempts to unsettle an unchallenged, implemented plan were frivolous, justifying costs for abuse of process.
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