Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
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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