Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
The High Court held that the Adjudicating Authority under the Foreign Trade (FT) Act lacks jurisdiction to adjudicate a claim for payment of interest on an amount utilized by the petitioner, to which they were not legally entitled. The Court observed that the FT Act only allows for imposition of penalties or confiscation, but does not provide for adjudication of interest claims. The interest claim must be enforced before a competent forum. The Court restrained the respondents from putting the petitioner's Importer-Exporter Code on the Denied Entity List and directed its removal if already done. The petition was allowed.
The High Court held that the Adjudicating Authority under the Foreign Trade (FT) Act lacks jurisdiction to adjudicate a claim for payment of interest on an amount utilized by the petitioner, to which they were not legally entitled. The Court observed that the FT Act only allows for imposition of penalties or confiscation, but does not provide for adjudication of interest claims. The interest claim must be enforced before a competent forum. The Court restrained the respondents from putting the petitioner's Importer-Exporter Code on the Denied Entity List and directed its removal if already done. The petition was allowed.
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