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...
Initiation of CIRP proceedings was challenged on the ground of limitation, which was rejected by the Adjudicating Authority and NCLAT based on the acknowledgement of debt in the financial statements and auditor's report of the Corporate Debtor for the year ending 31.03.2017. The entries in the balance sheets, along with Note 3.4 mentioning defaults in repayment of term loans, interest, and long-term borrowings, were considered clear acknowledgments of debt. The Corporate Debtor's One Time Settlement (OTS) proposal to UCO Bank, acknowledging prior debts owed, was also considered an acknowledgment of debt, relying on the Supreme Court's judgment in Lakshmirattan Cotton Mills Co. Ltd. case. The findings of the Adjudicating Authority and NCLAT were upheld as correct in law and fact, and the appeal was dismissed.
Initiation of CIRP proceedings was challenged on the ground of limitation, which was rejected by the Adjudicating Authority and NCLAT based on the acknowledgement of debt in the financial statements and auditor's report of the Corporate Debtor for the year ending 31.03.2017. The entries in the balance sheets, along with Note 3.4 mentioning defaults in repayment of term loans, interest, and long-term borrowings, were considered clear acknowledgments of debt. The Corporate Debtor's One Time Settlement (OTS) proposal to UCO Bank, acknowledging prior debts owed, was also considered an acknowledgment of debt, relying on the Supreme Court's judgment in Lakshmirattan Cotton Mills Co. Ltd. case. The findings of the Adjudicating Authority and NCLAT were upheld as correct in law and fact, and the appeal was dismissed.
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