Suspension of insolvency professional registration prevents continued Resolution Professional appointments and restricts interim stays that effectivel...
Original works exemption for railway contracts depends on actual integrated construction scope, while accessible tax data defeats suppression allegati...
Survey surrender characterisation determines whether mixed excess stock and business-linked cash face normal taxation or special deemed-income taxatio...
Under the PMLA, where seizure is impracticable, an authorised officer may freeze bank accounts and related records. Reasons to believe must be recorded and forwarded with the relevant material to the Adjudicating Authority in sealed cover; they need not be reproduced in the freezing order. Non-disclosure of those reasons in the order therefore does not itself invalidate the restraint, provided the continuation application and show-cause process are initiated as prescribed. Whether all or part of the frozen funds represent proceeds of crime must be determined by the Adjudicating Authority after notice and hearing, subject to statutory appeal. Writ interference to defreeze the accounts was declined because statutory remedies remained available.
Under the PMLA, where seizure is impracticable, an authorised officer may freeze bank accounts and related records. Reasons to believe must be recorded and forwarded with the relevant material to the Adjudicating Authority in sealed cover; they need not be reproduced in the freezing order. Non-disclosure of those reasons in the order therefore does not itself invalidate the restraint, provided the continuation application and show-cause process are initiated as prescribed. Whether all or part of the frozen funds represent proceeds of crime must be determined by the Adjudicating Authority after notice and hearing, subject to statutory appeal. Writ interference to defreeze the accounts was declined because statutory remedies remained available.
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