Declared value for used garments needs reliable comparables; restricted second-hand imports without licence may still attract confiscation and moderat...
Conditional votes on a revival scheme cannot be treated as unqualified statutory assent where attached modifications materially affect allottees' contractual and financial rights. Sanction requires the statutory majority to approve the arrangement ultimately placed before the Court, after the legal effect of conditions, informed stakeholder decision-making, fairness to the affected class, adequate disclosure and individual objections have been assessed. Commercial wisdom of the majority applies only once these statutory safeguards are met. The sanction of the revival scheme was set aside and remanded for fresh consideration, including fresh meetings where required.
Conditional votes on a revival scheme cannot be treated as unqualified statutory assent where attached modifications materially affect allottees' contractual and financial rights. Sanction requires the statutory majority to approve the arrangement ultimately placed before the Court, after the legal effect of conditions, informed stakeholder decision-making, fairness to the affected class, adequate disclosure and individual objections have been assessed. Commercial wisdom of the majority applies only once these statutory safeguards are met. The sanction of the revival scheme was set aside and remanded for fresh consideration, including fresh meetings where required.
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