Interactive flat panels meeting automatic data processing conditions are distinguished from monitors, while later classification clarifications apply ...
Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
A Section 7 application should not be rejected on maintainability without examining the real nature of the transaction where the materials disclose competing versions on whether the funds were a loan, a working-capital infusion, or a capital contribution. Entries in the corporate debtor's books showing the amount as long-term borrowing supported acknowledgment of debt, but the conflicting documents required fuller scrutiny, including the respondent's reply, before a decision on the nature of the debt could be made. The matter was therefore remanded for fresh consideration on merits, and capital contributions by directors or promoters were noted not to be retrospectively treated as financial debt without proper proof.
A Section 7 application should not be rejected on maintainability without examining the real nature of the transaction where the materials disclose competing versions on whether the funds were a loan, a working-capital infusion, or a capital contribution. Entries in the corporate debtor's books showing the amount as long-term borrowing supported acknowledgment of debt, but the conflicting documents required fuller scrutiny, including the respondent's reply, before a decision on the nature of the debt could be made. The matter was therefore remanded for fresh consideration on merits, and capital contributions by directors or promoters were noted not to be retrospectively treated as financial debt without proper proof.
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