Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Where the Companies Act provides a specific appellate forum against NCLT orders, writ proceedings cannot ordinarily be used to bypass that remedy, and High Court directions on delay do not bind the Appellate Tribunal on maintainability. Section 14 of the Limitation Act applies only on proof of bona fide prosecution with due diligence and good faith; repeated pursuit of writ, appeal and review proceedings after being told the proper remedy was an NCLAT appeal defeated that requirement. Limitation had to be tested under the special statutory scheme, and time spent in review before the High Court could not extend it. The delay application was rejected and the company appeal was dismissed as time-barred.
Where the Companies Act provides a specific appellate forum against NCLT orders, writ proceedings cannot ordinarily be used to bypass that remedy, and High Court directions on delay do not bind the Appellate Tribunal on maintainability. Section 14 of the Limitation Act applies only on proof of bona fide prosecution with due diligence and good faith; repeated pursuit of writ, appeal and review proceedings after being told the proper remedy was an NCLAT appeal defeated that requirement. Limitation had to be tested under the special statutory scheme, and time spent in review before the High Court could not extend it. The delay application was rejected and the company appeal was dismissed as time-barred.
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