PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Page of 4826
Press 'Enter' after typing page number.
1 to 20 of 96510 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Appointment of a Provisional Liquidator does not dissolve the company, but it displaces the board and renders directors functus officio, with control over assets and bank accounts shifting to the liquidator. In that setting, a director no longer has the legal or practical ability to operate the company's account or ensure compliance with a statutory demand under Section 138 of the Negotiable Instruments Act. Because the Provisional Liquidator had been appointed before dishonour of the cheques and before issuance of the notice, the accused did not satisfy the essential ingredients of the offence. The complaint against him was therefore held not maintainable and the proceedings were quashed insofar as they related to him.
Appointment of a Provisional Liquidator does not dissolve the company, but it displaces the board and renders directors functus officio, with control over assets and bank accounts shifting to the liquidator. In that setting, a director no longer has the legal or practical ability to operate the company's account or ensure compliance with a statutory demand under Section 138 of the Negotiable Instruments Act. Because the Provisional Liquidator had been appointed before dishonour of the cheques and before issuance of the notice, the accused did not satisfy the essential ingredients of the offence. The complaint against him was therefore held not maintainable and the proceedings were quashed insofar as they related to him.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
Join Channel 
