Corporate guarantee invocation in insolvency petition: enforceability upheld, conditional sanction letter not a novation, limitation not barred after ...
NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
A report under sections 206 to 208 of the Companies Act, 2013 must rest on a lawful inquiry or inspection, with the company first informed in writing of the allegations and given an opportunity to explain; here, no notices under section 206 were issued and the report itself showed that a fresh inspection was needed, so the report was ex facie illegal and was quashed. An SFIO investigation under section 212 requires material disclosing fraud, meaning conduct involving intent to deceive or gain undue advantage; persistent repayment defaults and related complaints, without more, did not establish fraud or a jurisdictional basis for SFIO action. The SFIO order, and the consequential summons and notices, were also quashed.
A report under sections 206 to 208 of the Companies Act, 2013 must rest on a lawful inquiry or inspection, with the company first informed in writing of the allegations and given an opportunity to explain; here, no notices under section 206 were issued and the report itself showed that a fresh inspection was needed, so the report was ex facie illegal and was quashed. An SFIO investigation under section 212 requires material disclosing fraud, meaning conduct involving intent to deceive or gain undue advantage; persistent repayment defaults and related complaints, without more, did not establish fraud or a jurisdictional basis for SFIO action. The SFIO order, and the consequential summons and notices, were also quashed.
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