The Court held that rejecting an appeal for wrong jurisdiction without proper mechanism was a mistake. It restored the appeal and directed its transmission to the correct authority.
The Tribunal held that all resolution plans were rightly rejected as they offered values below liquidation value. It emphasized that the CoC’s commercial judgment, based on financial viability, cannot be interfered with unless statutory provisions are violated. The ruling reinforces that business decisions of the CoC are paramount in insolvency proceedings.
The court held that recovery proceedings cannot continue without considering the taxpayer’s objections. Authorities must decide representations before enforcing attachment.
The court held that once investigation is complete and evidence is secured, continued custody is not justified. Bail can be granted even in high-value GST fraud cases.
This explains how GST treatment of vouchers depends on the real nature of the transaction, not labels. Misclassification can lead to higher tax exposure and compliance risks.
The case involved non-maintenance of a valid registered office, leading to undelivered notices. The authority imposed penalties, holding such failure violates statutory compliance requirements.
The law excludes independent directors from rotational retirement due to their fixed tenure. It clarifies their distinct status in corporate governance. Key takeaway: independent directors follow a separate tenure framework.
The case addresses non-maintenance of Board and General Meeting notices and dispatch proof. The authority imposed penalties, emphasizing strict documentation requirements under the Companies Act.
The issue relates to improper recording and signing of Board meeting minutes. The ruling confirms that incomplete or unsigned minutes attract penalties under the Companies Act.
The ROC held that non-appointment of a mandatory Company Secretary within the prescribed timeline constitutes a serious compliance breach. Even delayed appointment does not cure the violation, resulting in substantial penalties on both company and directors.
