2019 (8) TMI 809

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....ate For The Respondent : Mr. Swarajit Roychoudhury, Advocate And Mr. Radha Mohan Roy, Advocate ORDER The Court: The order of the tribunal made on 27th February 2019 is challenged principally on the ground of perversity in arriving at the findings in relation to the issues mentioned in paragraph 10 of the stay petition. On that basis questions of law have been formulated in the said paragr....

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....ether the provision for non-performing assets of Rs. 13.71 crore made by the appellant in accordance with the provisions of Non-banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 was a legitimate business deduction? (iv) Whether the transfer of Rs. 22 crore to special reserve in terms of section 45-IC of the Reserve Bank of Indi....

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.... Prudential Norms (Reserve Bank) Directions 2007 which had over-riding effect over the provisions of Parts II and III of Schedule VI to the Companies Act 1956 and the purported findings of the Tribunal not adjudicating and/or rejecting the appellant's said claim are arbitrary, unreasonable and perverse? (vii) Whether capital profit/loss on account of sale of investments, transfer of busin....