Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
The NCLAT considered whether third-party cotton bales kept at a corporate debtor's premises formed part of the liquidation estate and whether it could decide related title and security disputes under the IBC. It held that the appeals had become infructuous because the liquidator had already excluded the cotton bales from the liquidation estate and SBI did not object, leaving no surviving relief to determine. It further held that questions of title, competing security interests, sale of the goods, deterioration, and consequential entitlements fell outside its IBC jurisdiction and had to be pursued before the appropriate forum, including the DRAT. The appellants retained a right of redemption and were left to work out their remedies elsewhere.
The NCLAT considered whether third-party cotton bales kept at a corporate debtor's premises formed part of the liquidation estate and whether it could decide related title and security disputes under the IBC. It held that the appeals had become infructuous because the liquidator had already excluded the cotton bales from the liquidation estate and SBI did not object, leaving no surviving relief to determine. It further held that questions of title, competing security interests, sale of the goods, deterioration, and consequential entitlements fell outside its IBC jurisdiction and had to be pursued before the appropriate forum, including the DRAT. The appellants retained a right of redemption and were left to work out their remedies elsewhere.
Note: It is a system-generated summary and is for quick reference only.