Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
Allowability of Salary Exemptions: Form 16 entries can substantiate HRA and other salary exemptions, and home loan interest is deductible for a self-o...
Capital gains exemption: payment for plot, architect fees and bona fide commencement of construction can satisfy utilisation requirement and secure re...
Simultaneous insolvency proceedings against a principal borrower and its corporate guarantor were held maintainable, so a status quo order in the borrower's case did not bar liquidation of the guarantor. A proposed settlement could not be used to resist liquidation after commencement of liquidation, because withdrawal under Section 12A is unavailable at that stage; any post-liquidation compromise must proceed through a Section 230 scheme. The tribunal also found no error in deciding an interlocutory application on merits despite the applicant's absence, as the rules permit dismissal for default or decision on merits. Liquidation was sustained on the unanimous CoC decision, absence of any resolution plan, and failure of settlement efforts.
Simultaneous insolvency proceedings against a principal borrower and its corporate guarantor were held maintainable, so a status quo order in the borrower's case did not bar liquidation of the guarantor. A proposed settlement could not be used to resist liquidation after commencement of liquidation, because withdrawal under Section 12A is unavailable at that stage; any post-liquidation compromise must proceed through a Section 230 scheme. The tribunal also found no error in deciding an interlocutory application on merits despite the applicant's absence, as the rules permit dismissal for default or decision on merits. Liquidation was sustained on the unanimous CoC decision, absence of any resolution plan, and failure of settlement efforts.
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