Section 33(1A) gives the Adjudicating Authority residual judicial discretion to restore CIRP; it is not confined to a formal compliance review. Where statutory conditions are met and the Committee of Creditors unanimously supports restoration after deliberation, refusal requires cogent, relevant reasons consistent with value maximisation and the resolution-first objective. Unsubstantiated concerns over monetisation of carried-forward tax losses, without notice or supporting material, cannot displace that decision; tax treatment remains for tax authorities. The availability of an arbitral claim in liquidation requires comparison of value, timing, cost, risk and market interest under both routes. A reasoned order must engage with creditors' deliberations and explain any departure from treating liquidation as a last resort.

Security interest under the IBC is confined by the clarificatory Explanation to rights arising from an agreement or arrangement between parties, excluding rights created solely by operation of law. Accordingly, a statutory first charge under the GVAT Act and a pre-CIRP attachment constitute a statutory right and an enforcement measure, not consensual security; the related tax dues are operational debt rather than secured debt. Central Sales Tax dues likewise lack secured status because the CST Act creates no statutory first charge, and statutory recovery provisions alone do not create security. GVAT and CST components of a composite tax claim require separate examination for insolvency treatment.

Suspension of an insolvency professional's registration prevents continued service as an Interim Resolution Professional or Resolution Professional in ongoing insolvency processes. Required intimation to the Committee of Creditors and Adjudicating Authority, followed by steps to appoint a successor, implements the disciplinary suspension rather than the Committee's separate replacement power. Challenges to the Disciplinary Committee's composition and investigation sequence require final examination and do not alone establish manifest invalidity at the interim stage. Interim suspension relief requires a prima facie case, favourable balance of convenience and irreparable injury; a general stay enabling fresh assignments may amount to final relief. The interim stay application was dismissed, while the disciplinary appeal remains for final adjudication.

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.

Export NOCs limited to specified destinations did not authorise diversion of Tramadol to Pakistan through overseas intermediaries. Email communications and other material established that the intermediaries routed exports to Pakistan and that the appellant company knew of and participated in the arrangement, supporting the money-laundering finding and confirmation of provisional attachment of proceeds of crime. Statutory valuation of attached property required its fair market value on the acquisition date, with the sale deed as material evidence; a later valuation report could not replace that measure. Attachment remained limited to proceeds of crime attributable to the company, and the challenge was dismissed.

Railway works contracts qualify for the original-works exemption where their actual scope and integrated construction activities show new installation, structural facilities, foundational work, earthwork or reconstruction, regardless of repair-related terminology. OHE mast-base arrangements, integrated civil infrastructure and goods-wharf reconstruction possess these attributes where they facilitate railway electrification or create or replace structural facilities. Extended limitation for Service Tax is unavailable where receipts are traceable through governmental TDS information and Form 26AS, absent suppression or wilful misstatement with intent to evade tax. Where the underlying works are exempt and no such intent is established, related interest and penalties for non-payment or non-filing cannot survive.

Service tax refund claims against unmodified self-assessments are not maintainable because self-assessment constitutes an assessment order and cannot be reviewed or reassessed through refund proceedings. A Board clarification on exemption eligibility, or a representation to the Board, cannot modify an assessment or replace the statutory appellate remedy. Post-clearance credit notes for housekeeping and canteen or outdoor catering services do not by themselves rebut the statutory presumption that the tax burden was passed on. Direct refund also requires proof that unjust enrichment has not occurred; adjustment provisions for service tax cannot override that requirement.

Winding-up of a co-operative society based on a statutory inspection requires communication of the inspection report, a reasonable hearing and independent recorded reasons as safeguards of natural justice; non-compliance invalidates the winding-up and consequential liquidation. An RBI requisition following rejection of a banking licence does not displace the Registrar's duty to satisfy statutory conditions and procedure for winding up; it operates alongside those requirements. A statutory appeal provision permitting any member to challenge a winding-up order remains available after appointment of a liquidator. The society was revived as a co-operative credit society, barred from banking, with asset handover supervised by the Registrar.

Liquidation-related claims and questions concerning a company undergoing insolvency proceedings fall within the exclusive statutory jurisdiction of the NCLT. The Insolvency and Bankruptcy Code bars civil-court jurisdiction over such matters and requires the civil court to determine suit maintainability before issuing interim protection. Accordingly, an ad interim injunction affecting pending liquidation proceedings cannot be granted by a civil court. Supervisory jurisdiction under Article 227 remains available notwithstanding alternative remedies under the Code of Civil Procedure.

Form 10AB applications for regular charitable registration cannot be rejected solely for alleged delay where the applicable extended filing deadline covers the filing. Registration must be reconsidered on merits when charitable activities are not in doubt and the applicant received inadequate opportunity to respond to a proposed rejection, including a short response period and portal-only notice without registered-email communication. Minor delay alone should not defeat a regular registration application; the application requires fresh consideration under the extended time limit and applicable law.

Section 68 additions for an unsecured loan and a sundry creditor were deleted because the evidentiary record established the requisite identity, creditworthiness and genuineness. Confirmations, lender bank statements, income-tax returns, statements of affairs and other supporting records substantiated the unsecured loan. The sundry creditor arose from director remuneration offered to tax by the recipient, and supporting material established its genuineness. As the evidence and findings remained uncontroverted, no basis remained for sustaining either addition.

For CGST Act assessments concerning input tax credit, the electronic credit ledger is treated as a pooled wallet containing IGST, CGST and SGST credit rather than separate tax-head compartments. Cross-head utilisation of IGST credit towards CGST and SGST liabilities cannot be treated as wrongful availment without applying that pooled-wallet principle. Findings that treated such utilisation as wrongful were set aside and require fresh determination under the correct ledger treatment.

Inadvertent head-wise utilisation of available IGST credit towards CGST and SGST liabilities does not, by itself, constitute unlawful availment of excess input tax credit in adjudication under Section 73. Where the alleged excess credit arises solely from such utilisation, the applicable rules governing IGST credit set-off must be applied before treating the credit as excessive. The excess-input-tax-credit component requires fresh determination, and the assessee is entitled to the applicable treatment of IGST credit utilisation.

Input tax credit utilisation across CGST, SGST and IGST must be assessed under the governing rules and the binding Division Bench position on cross-utilisation. Rejection solely because credit was adjusted against CGST and SGST rather than IGST is unsustainable. The assessment requires fresh determination in accordance with that binding position after the assessee is heard.

"Specified Persons" replaces "Associated Persons" in regulation 17A(4) of the Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993, and in regulations 2(1)(ea) and 2(1)(ha) of the Securities and Exchange Board of India (Self Regulatory Organizations) Regulations, 2004. These terminology amendments took effect on 8 October 2026.

Regulation 12 provides for amendment of the regulations specified in the Schedule to the Securities and Exchange Board of India (Certification of Associated Persons in the Securities Markets) Regulations, 2007. Each scheduled regulation is to be amended only in the manner and to the extent set out in that Schedule.

Silver classified under ITC(HS) 71069221 may be imported only against a valid DGFT Import Authorisation, except where Policy Condition No. 7 exemptions apply. Nominated Agency, IFSCA Qualified Jeweller, or EOU status is not an additional eligibility condition unless expressly imposed by the Authorisation. The holder may import directly in its own name, subject to endorsed conditions. Import through IIBX is not mandatory for this classification unless specifically required by the Import Authorisation.

The Computer Forensic and Data Mining Laboratory under the Serious Fraud Investigation Office, Ministry of Corporate Affairs, New Delhi, is designated as an Examiner of Electronic Evidence within India for electronic-evidence examination. Its specialised forensic role covers Computer (Media) Forensics and expressly excludes Floppy Disk Drive examination from its designated scope.

Authorised Dealers must maintain a Foreign Exchange Risk Reserve for covered INR derivative contracts used to hedge current account transactions involving purchase of foreign currency against INR. The reserve, calculated at 20 per cent of the INR-equivalent notional amount, must be held as daily cash in India with the Reserve Bank until termination. Splitting transactions to avoid coverage is a violation, and daily reporting through CIMS is required.

Authorised Dealers may not permit rebooking of cancelled INR foreign exchange derivative contracts with any dealer, although rollover at maturity remains permissible. The threshold for specified derivative positions without establishing underlying exposure is USD 5 million equivalent outstanding at any time. For contracts hedging contracted exposures, Authorised Dealers must obtain and retain undertakings addressing hedging with other dealers, verify underlying exposure, and retain necessary documentation for at least two years.