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...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
IBBI suspended the registration of the Petitioner for two years due to various allegations. The High Court found that the Petitioner did not violate any regulations by imposing a non-refundable participation fee on bidders before a specific regulation was in force. Regarding the appointment of unregistered valuers, the Court noted that the valuers involved were registered individually, and their work was accepted without issue. However, the Court upheld the charge of appointing a support service, BRAL, in which the Petitioner was a partner, to increase fees, which contravened Liquidation Regulations. The Court modified the suspension to the period already served, acknowledging 20 months of suspension already undergone. The petition was disposed of accordingly.
IBBI suspended the registration of the Petitioner for two years due to various allegations. The High Court found that the Petitioner did not violate any regulations by imposing a non-refundable participation fee on bidders before a specific regulation was in force. Regarding the appointment of unregistered valuers, the Court noted that the valuers involved were registered individually, and their work was accepted without issue. However, the Court upheld the charge of appointing a support service, BRAL, in which the Petitioner was a partner, to increase fees, which contravened Liquidation Regulations. The Court modified the suspension to the period already served, acknowledging 20 months of suspension already undergone. The petition was disposed of accordingly.
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