Status of the appellant - Shareholder or Credit of the Corporate ...

Tribunal Rules Physical Review of Register of Members Not Mandatory u/s 59; Appellant's Shareholder Claim Rejected.

July 5, 2023

Case Laws Insolvency and Bankruptcy AT

Status of the appellant - Shareholder or Credit of the Corporate Debtor - A physical perusal of the Register of Members cannot be said to be a mandatory prerequisite for taking recourse under Section 59 of the Act. Be that as it may, this Tribunal is of the considered view that the documentary evidence on record establishes that the money was infused by the Appellant, vide the terms in the MoU, as an ‘Investment’ to be converted into ‘Equity’. - Claim rejected - AT

View Source

← Previous Next →

Status of the appellant - Shareholder or Credit of the Corporate ...

Tribunal Rules Physical Review of Register of Members Not Mandatory u/s 59; Appellant's Shareholder Claim Rejected.

July 5, 2023

Case Laws Insolvency and Bankruptcy AT

You may also like:

Power of tribunal to review application - It is the well laid down proposition of law that ‘in the absence of any power of ‘Review’ or ‘Recall’ vested with the...

Power of Tribunal to review the judgment versus Power to re-call - Larger Bench (5 Members) decision - The judgments of the Hon’ble Supreme Court clearly lays down that...

Seeking rectification of register of members of the Company - Even though the Respondents stated that they have inducted the new members with the approval of the Board,...

Refund claim - deemed exports - The specific inclusion of clause (1A) in Rule 5 bid clearly shows the legislative intent to allow refund facility to actual physical...

Scope of the "Point of difference" - Divergent views of the members of tribunal - matter referred to third member - appellant sight that more points to be included in...

Extension of tenure of the existing Technical Member of the West Bengal Taxation Tribunal - The Administrative Member of the Tribunal has continued by virtue of interim...

The Appellate Tribunal addressed the claim of deduction u/s 32AD for additional investment allowance on an investment made in the financial year 2015-16. The issue arose...

Reference the matter to the larger bench of 3 members by the Single Member Bench - Even if the learned Member hearing this appeal found it difficult to accept the view...

A review application is maintainable on (i) discovery of new and important evidence which could not be produced earlier despite due diligence, (ii) mistake or error...

Condonation of delay in filing of Review Application - In view of the fact that Section 14 of the Limitation Act, 1963 applies to the Court / Tribunal whether the...

Inconsistent Rule with statutory provision - Section 18(6) of the JVAT Act, 2005 does not contemplate production of JVAT -404 Forms as a mandatory condition for availing...

Preservation of register of members etc. and annual return - Requirement of advance filing of special resolution omitted - See Rule 15 of the Companies (Management and...

Committee to advise on valuation matters - Presidents of the ICAI, ICSI, ICAI (cost accountant) included as ex-officio members - Rule 19 of the Companies (Registered...

The assessee, after being amalgamated with another company, treated the excess consideration paid over the net assets acquired as goodwill and claimed depreciation at...

The case pertains to the refund of service tax paid on input services utilized for the export of 'Cut and Polished Diamonds' during October 2015 to March 2016, as per...

Quick Updates: