Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
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The court examined whether the suit is barred u/s 34 of the SARFAESI Act. The petitioner, being a shareholder, lacks locus standi to challenge the secured creditor's actions. However, the pleadings allege fraud and collusion between the respondents, including the bank, in sanctioning the loan without due process. The court held that averments of fraud and collusion cannot be rejected outright, and the relief sought for declaring the loan facility and mortgage as null is not within DRT's jurisdiction under SARFAESI Act but permissible under Specific Relief Act. The lower courts erred in considering documents contrary to pleadings. The petitioner cannot be denied remedy against secured creditors' actions. Consequently, the High Court quashed the lower court orders, restoring the plaint to the Commercial Court for adjudication in accordance with law.
The court examined whether the suit is barred u/s 34 of the SARFAESI Act. The petitioner, being a shareholder, lacks locus standi to challenge the secured creditor's actions. However, the pleadings allege fraud and collusion between the respondents, including the bank, in sanctioning the loan without due process. The court held that averments of fraud and collusion cannot be rejected outright, and the relief sought for declaring the loan facility and mortgage as null is not within DRT's jurisdiction under SARFAESI Act but permissible under Specific Relief Act. The lower courts erred in considering documents contrary to pleadings. The petitioner cannot be denied remedy against secured creditors' actions. Consequently, the High Court quashed the lower court orders, restoring the plaint to the Commercial Court for adjudication in accordance with law.
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