Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Earnest money guarantees furnished by scheme proponents in a liquidation process cannot be recovered merely because the proponent withdraws after its proposed scheme is not accepted. The guarantee secures submission of the proponent's own scheme and does not require submission of a scheme meeting the satisfaction of the stakeholders' committee or Adjudicating Authority. Commercial considerations and delay may justify a decision not to continue participating. Without an established legal basis imposing liability, withdrawal does not permit recovery of the guarantee for the liquidation estate. The direction requiring deposit of the earnest money guarantee into the liquidation estate was therefore set aside.
Earnest money guarantees furnished by scheme proponents in a liquidation process cannot be recovered merely because the proponent withdraws after its proposed scheme is not accepted. The guarantee secures submission of the proponent's own scheme and does not require submission of a scheme meeting the satisfaction of the stakeholders' committee or Adjudicating Authority. Commercial considerations and delay may justify a decision not to continue participating. Without an established legal basis imposing liability, withdrawal does not permit recovery of the guarantee for the liquidation estate. The direction requiring deposit of the earnest money guarantee into the liquidation estate was therefore set aside.
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