https://www.taxtmi.com/caselaws?id=430585 An adjudicating authority under the Insolvency and Bankruptcy Code cannot review a final order unless express statutory power exists; Rule 11 of the NCLT Rules and Section 420 of the Companies Act do not create a general review jurisdiction. Mere disagreement with the earlier view, or allegations requiring reconsideration on merits, cannot be corrected as review or rectification absent clerical, arithmetical, or procedural error. Where forensic material showed that property was acquired from corporate debtor funds, the loan was repaid through the corporate debtor's accounts, and the deed stood in an ex-director's name, the asset could be treated as part of the corporate estate. Attachment and auction directions in liquidation were therefore maintained, with no patent jurisdictional error or infirmity shown. en-us Tue, 18 Oct 2022 00:00:00 +0530 Wed, 23 Nov 2022 08:31:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430585 An adjudicating authority under the Insolvency and Bankruptcy Code cannot review a final order unless express statutory power exists; Rule 11 of the NCLT Rules and Section 420 of the Companies Act do not create a general review jurisdiction. Mere disagreement with the earlier view, or allegations requiring reconsideration on merits, cannot be corrected as review or rectification absent clerical, arithmetical, or procedural error. Where forensic material showed that property was acquired from corporate debtor funds, the loan was repaid through the corporate debtor's accounts, and the deed stood in an ex-director's name, the asset could be treated as part of the corporate estate. Attachment and auction directions in liquidation were therefore maintained, with no patent jurisdictional error or infirmity shown. Case-Laws Insolvency and Bankruptcy Tue, 18 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430585