https://www.taxtmi.com/caselaws?id=330557 Tracing and restitution principles were applied to uphold prior prima facie findings that funds remitted by a subsidiary were credited to the company for purported services and that subsequent transfers raised doubt as to bonafides; the defence of change of position was considered but found insufficient to erode the substratum of earlier orders. Consequently interlocutory attachment and restraint directions against specified entities remain in force, and the earlier direction to deposit the stipulated sum with Canara Bank is necessary to protect secured creditor rights; the appeal is dismissed and no modification is warranted. en-us Fri, 22 Jul 2016 00:00:00 +0530 Fri, 29 Jul 2016 12:25:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330557 Tracing and restitution principles were applied to uphold prior prima facie findings that funds remitted by a subsidiary were credited to the company for purported services and that subsequent transfers raised doubt as to bonafides; the defence of change of position was considered but found insufficient to erode the substratum of earlier orders. Consequently interlocutory attachment and restraint directions against specified entities remain in force, and the earlier direction to deposit the stipulated sum with Canara Bank is necessary to protect secured creditor rights; the appeal is dismissed and no modification is warranted. Case-Laws Companies Law Fri, 22 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330557