Independent show-cause notices remain separate proceedings, while customs adjudication challenges should ordinarily follow the statutory appellate rem...
Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Maintainability of application u/s 7 - time limitation - The Appellate Tribunal referenced recent Supreme Court judgments, affirming that a liability arising from a Recovery Certificate constitutes a financial debt under the IBC. Thus, the application filed within the limitation period was deemed valid. The Tribunal upheld the FC's status as a Financial Creditor based on recent Supreme Court rulings, which clarified that a Recovery Certificate gives rise to a fresh cause of action under the IBC. - After thorough consideration of legal arguments and precedents, the NCLAT affirmed the NCLT's decision to admit the application for CIRP.
Maintainability of application u/s 7 - time limitation - The Appellate Tribunal referenced recent Supreme Court judgments, affirming that a liability arising from a Recovery Certificate constitutes a financial debt under the IBC. Thus, the application filed within the limitation period was deemed valid. The Tribunal upheld the FC's status as a Financial Creditor based on recent Supreme Court rulings, which clarified that a Recovery Certificate gives rise to a fresh cause of action under the IBC. - After thorough consideration of legal arguments and precedents, the NCLAT affirmed the NCLT's decision to admit the application for CIRP.
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