Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
A second charge created under a consent decree and consequential deed of charge was upheld as a valid security interest where the first charge holder's priority remained expressly preserved and the second charge operated only after discharge of the first charge. The Tribunal held that absence of the first charge holder's prior consent did not render the second charge a nullity, and the liquidator was bound by the decree and deed. It also held that Regulation 21 of the Liquidation Process Regulations is enabling, not exhaustive, so security interest may be proved by other valid material. Non-registration under Section 77 of the Companies Act was not, by itself, enough to deny secured status. The appeal was dismissed.
A second charge created under a consent decree and consequential deed of charge was upheld as a valid security interest where the first charge holder's priority remained expressly preserved and the second charge operated only after discharge of the first charge. The Tribunal held that absence of the first charge holder's prior consent did not render the second charge a nullity, and the liquidator was bound by the decree and deed. It also held that Regulation 21 of the Liquidation Process Regulations is enabling, not exhaustive, so security interest may be proved by other valid material. Non-registration under Section 77 of the Companies Act was not, by itself, enough to deny secured status. The appeal was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
