The case examines whether insolvency must be admitted upon default. The Supreme Court held that tribunals have discretion to consider financial health, emphasizing revival over automatic admission
The issue was confusion due to separate previous and assessment years. The reform replaces them with a single Tax Year, simplifying references while retaining existing assessment timelines.
The company failed to form mandatory board committees for over four years. The authority held that each non-compliance attracts separate penalties.
The case involved incorrect filing of director designation in statutory records. The authority held that prolonged failure to rectify the error constituted a continuing default, attracting maximum penalty.
The case involved failure to file mandatory Form MR-1 for appointment of a Whole-Time Director. The authority held that prolonged non-compliance constituted a continuing default and imposed maximum penalties under Section 450.
The company delayed appointment of independent directors despite crossing the threshold. The authority held that prolonged non-compliance attracts maximum penalty under the Companies Act.
The issue involved non-compliance with statutory requirements for maintaining board meeting minutes. The authority held that procedural lapses still attract penalties under Section 118.
The authority dropped penalty proceedings after finding that the company had already shifted its registered office and the error was unintentional. Timely compliance and lack of mala fide intent proved crucial.
Courts recognize oral family settlements if genuine and voluntary. However, lack of evidence or misuse for tax purposes can lead to rejection and legal complications.
The case addresses withdrawal of an advance ruling request before its pronouncement. The authority permitted withdrawal under Regulation 20, leaving the classification and duty issues undecided.
