Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
Insolvency and BankruptcyDecember 1, 2021Case LawsAT
Initiation of CIRP - It is to be remembered that IBC, 2016 is not a ‘Debt Enforcement Procedure’ - the ‘proceedings’ under IBC are summary in nature and not an adversary one. Suffice it for this ‘Tribunal’ to relevantly point out that the ‘proceedings’ under IBC are not like that of a regular ‘Civil Suit’. As such, the aspects of the exorbitant interest, penal interest, purportedly imposed on the ‘Corporate Debtor’ by the Respondent No. 1/Bank are not gone into by this ‘Tribunal’ in ‘Appeal’. - AT
Initiation of CIRP - It is to be remembered that IBC, 2016 is not a ‘Debt Enforcement Procedure’ - the ‘proceedings’ under IBC are summary in nature and not an adversary one. Suffice it for this ‘Tribunal’ to relevantly point out that the ‘proceedings’ under IBC are not like that of a regular ‘Civil Suit’. As such, the aspects of the exorbitant interest, penal interest, purportedly imposed on the ‘Corporate Debtor’ by the Respondent No. 1/Bank are not gone into by this ‘Tribunal’ in ‘Appeal’. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
