Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
The adjustment of a corporate debtor's security deposit was treated as a pre-CIRP decision because the material showed approval before commencement of CIRP, with later billing entries viewed as consequential. The Tribunal rejected the allegation of a Section 14 moratorium breach and found no clear reconciliation proving wrongful appropriation of CIRP-period payments. It also held that the adjusted claim had been filed and accepted during CIRP, carried into the information memorandum and resolution plan, and could not be reopened after the plan was approved and implemented. Restoration of the amounts would impermissibly disturb settled commercial assumptions under the approved plan.
The adjustment of a corporate debtor's security deposit was treated as a pre-CIRP decision because the material showed approval before commencement of CIRP, with later billing entries viewed as consequential. The Tribunal rejected the allegation of a Section 14 moratorium breach and found no clear reconciliation proving wrongful appropriation of CIRP-period payments. It also held that the adjusted claim had been filed and accepted during CIRP, carried into the information memorandum and resolution plan, and could not be reopened after the plan was approved and implemented. Restoration of the amounts would impermissibly disturb settled commercial assumptions under the approved plan.
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