Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
This appeal challenges the approval of a resolution plan by the adjudicating authority. The appellant contends that the resolution professional (RP) failed to disclose certain commercial spaces (4th to 9th floors) belonging to the corporate debtor. However, the NCLAT finds this submission incorrect based on the information memorandum and virtual data room shared with the appellant as a resolution applicant. The entire Westin Hotel, including the disputed floors assigned to another entity, belonged to the corporate debtor. The resolution plan was invited on an "as is where is basis," and all applicants were required to conduct due diligence. The appellant's failure to seek clarification cannot be attributed to the RP's non-disclosure. Therefore, the NCLAT dismisses the application challenging the approved resolution plan, finding no merit in the appellant's submissions.
This appeal challenges the approval of a resolution plan by the adjudicating authority. The appellant contends that the resolution professional (RP) failed to disclose certain commercial spaces (4th to 9th floors) belonging to the corporate debtor. However, the NCLAT finds this submission incorrect based on the information memorandum and virtual data room shared with the appellant as a resolution applicant. The entire Westin Hotel, including the disputed floors assigned to another entity, belonged to the corporate debtor. The resolution plan was invited on an "as is where is basis," and all applicants were required to conduct due diligence. The appellant's failure to seek clarification cannot be attributed to the RP's non-disclosure. Therefore, the NCLAT dismisses the application challenging the approved resolution plan, finding no merit in the appellant's submissions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
