2016 (9) TMI 1351

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..... t unless the transactions are established to be fraudulent and the transfers are set aside - Held that: - If the complaint has to be proceeded with it has to be on the premise that the transfers if any were void ab initio which is impermissible unless there is a finding after adjudication that each such transaction was permitted by fraud and was intended to avoid the attachment proceedings and hen .....

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..... titioner No. 3 is concerned, the Commissioner of Central Excise had demanded a duty and penalty against petitioner No. 1 in the capacity of proprietor of the firm and as against the said order both petitioner Nos. 1 and 3 had preferred an appeal before the Tribunal. The Tribunal had granted conditional stay subject to deposit of ₹ 25,000/-, which condition was not complied with and according .....

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..... o be fraudulent and the transfers are set aside by a Civil Court in accordance with law, the Criminal Court cannot proceed on presumption that the transactions were void ab initio and such a presumption would result in miscarriage of justice. If the complaint has to be proceeded with it has to be on the premise that the transfers if any were void ab initio which is impermissible unless there is a .....

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