Judicial review of settlement orders cannot reopen settled customs notices, while statutory interest remains subject to verification and quantificatio...
Customs Broker licence lending for consideration justified revocation where exporter authorisation and client verification obligations were also breac...
Fraudulent import documents suspend limitation protection, while redemption of confiscated goods requires duty and interest despite bona fide purchase...
ODR arbitration participation remains mandatory after failed conciliation, while jurisdictional and maintainability objections stay available before t...
Transparency in technical bid evaluation requires disclosed standards and recorded reasons; opaque scoring invalidated tender awards and required fres...
Automated export obligation extensions remove separate regional applications after committee approval for Advance Authorisation and EPCG authorisation...
International cargo transhipment through Indian ports continues with Customs-controlled storage, re-export safeguards, and coordinated multi-station m...
The Appellate Tribunal held that the Annual Mine Closure Cost (AMCC) deposited by the Corporate Debtor in an Escrow Account belongs to the Corporate Debtor and cannot be kept aside from the Corporate Insolvency Resolution Process (CIRP). The Escrow Agreement provided for the return of the entire AMCC amount to the Corporate Debtor after completing mine closure activities. Categorizing AMCC as a pre-CIRP due and allowing its recovery independently would contravene the moratorium u/s 14 of the Insolvency and Bankruptcy Code (IBC). AMCC should be considered a CIRP cost u/s 5(13) of the IBC for running the Corporate Debtor as a going concern. The Appellate Tribunal set aside the Adjudicating Authority's direction to keep AMCC aside, as it would give the Respondents an undue preference over other creditors, defeating the purpose of CIRP. The appeal was allowed, modifying the impugned order.
The Appellate Tribunal held that the Annual Mine Closure Cost (AMCC) deposited by the Corporate Debtor in an Escrow Account belongs to the Corporate Debtor and cannot be kept aside from the Corporate Insolvency Resolution Process (CIRP). The Escrow Agreement provided for the return of the entire AMCC amount to the Corporate Debtor after completing mine closure activities. Categorizing AMCC as a pre-CIRP due and allowing its recovery independently would contravene the moratorium u/s 14 of the Insolvency and Bankruptcy Code (IBC). AMCC should be considered a CIRP cost u/s 5(13) of the IBC for running the Corporate Debtor as a going concern. The Appellate Tribunal set aside the Adjudicating Authority's direction to keep AMCC aside, as it would give the Respondents an undue preference over other creditors, defeating the purpose of CIRP. The appeal was allowed, modifying the impugned order.
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