Toy balloon tariff classification: functional heading prevails over residual rubber and festive article headings, supporting penalties for deliberate ...
Customs valuation using comparable contemporaneous imports can displace declared value, while missing speaking orders require pursuit before competent...
Foreign customs declarations and importer admissions established undervaluation, supporting sequential value redetermination, differential duty, and m...
Customs seizure safeguards prevent detention-based limitation avoidance and invalidate provisional release conditions for imported vehicles under an i...
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Insolvency and BankruptcyFebruary 16, 2024Case LawsAT
Rejection of Resolution Plan - The appellant argued before the Adjudicating Authority and subsequently in the Appeals that his plan, being submitted by an MSME (Micro, Small, and Medium Enterprises) promoter, should have been given more weight. - The NCLAT emphasized that its role is not to question the commercial wisdom of the CoC unless there are glaring omissions or statutory violations. The decision to approve the resolution plan of 'Eastern Copper Manufacturing Company Pvt. Ltd.' was upheld based on this principle.
Rejection of Resolution Plan - The appellant argued before the Adjudicating Authority and subsequently in the Appeals that his plan, being submitted by an MSME (Micro, Small, and Medium Enterprises) promoter, should have been given more weight. - The NCLAT emphasized that its role is not to question the commercial wisdom of the CoC unless there are glaring omissions or statutory violations. The decision to approve the resolution plan of 'Eastern Copper Manufacturing Company Pvt. Ltd.' was upheld based on this principle.
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