Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
CIRP - Liquidation proceedings - Rejection of claim of Yes Bank for transfer of VAT refund to the account of FEMC Pratibha JV - non relinquishing of security interest as part of liquidation estate - The Appellate Tribunal upheld the Adjudicating Authority's decision, dismissing the appeal. The VAT refund was correctly transferred to the Corporate Debtor's account, and Yes Bank's failure to comply with Regulation 21A justified the inclusion of secured assets in the liquidation estate. The appeal lacked merit and was dismissed.
CIRP - Liquidation proceedings - Rejection of claim of Yes Bank for transfer of VAT refund to the account of FEMC Pratibha JV - non relinquishing of security interest as part of liquidation estate - The Appellate Tribunal upheld the Adjudicating Authority's decision, dismissing the appeal. The VAT refund was correctly transferred to the Corporate Debtor's account, and Yes Bank's failure to comply with Regulation 21A justified the inclusion of secured assets in the liquidation estate. The appeal lacked merit and was dismissed.
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