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...
HC addressed priority of claims among secured and unsecured creditors in liquidation. Referring to SC precedent, HC upheld first charge holder's priority over second charge holder u/s 48 of Transfer of Property Act. Despite Companies Act not specifying priorities over mortgaged assets, HC affirmed Transfer of Property Act's application. Recovery officer's report aligned with HC's order, rejecting objections. HC directed Official Liquidator to release Rs. 9.5 Crores to recovery officer for distribution to certificate holders, retaining workers' dues. Application disposed of within fifteen working days.
HC addressed priority of claims among secured and unsecured creditors in liquidation. Referring to SC precedent, HC upheld first charge holder's priority over second charge holder u/s 48 of Transfer of Property Act. Despite Companies Act not specifying priorities over mortgaged assets, HC affirmed Transfer of Property Act's application. Recovery officer's report aligned with HC's order, rejecting objections. HC directed Official Liquidator to release Rs. 9.5 Crores to recovery officer for distribution to certificate holders, retaining workers' dues. Application disposed of within fifteen working days.
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