Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offic...
Customs Cargo Service Provider appointment extends custodianship to additional terminal land, subject to cargo-control, security and licence condition...
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.
TaxTMI 
of 4792
Join Channel
TaxTMI 
