Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
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.
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