Market value for captive electricity consumption follows industrial consumer tariffs, supporting profit computation for the power generation deduction...
Provisional release of seized imports requires enhanced duty payment, bank guarantee and disclosures while customs adjudication proceeds independently...
SARFAESI enforcement against personal guarantors may continue while CIRP is pending only against the corporate debtor, because the corporate-debtor moratorium does not extend to guarantors. The notes explain that an interim moratorium for a personal guarantor arises only when a creditor files an insolvency application against that guarantor; a demand notice alone is insufficient. They further state that IBC consolidation provisions do not apply where no guarantor insolvency proceeding exists, and that SARFAESI and debt-recovery proceedings are complementary remedies rather than mutually exclusive elections. On the stated facts, the possession notice, auction and sale certificate were restored by setting aside the contrary DRT directions; the Bank's writ petition was treated as maintainable.
SARFAESI enforcement against personal guarantors may continue while CIRP is pending only against the corporate debtor, because the corporate-debtor moratorium does not extend to guarantors. The notes explain that an interim moratorium for a personal guarantor arises only when a creditor files an insolvency application against that guarantor; a demand notice alone is insufficient. They further state that IBC consolidation provisions do not apply where no guarantor insolvency proceeding exists, and that SARFAESI and debt-recovery proceedings are complementary remedies rather than mutually exclusive elections. On the stated facts, the possession notice, auction and sale certificate were restored by setting aside the contrary DRT directions; the Bank's writ petition was treated as maintainable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4782
Join Channel
TaxTMI 
