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...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
The NCLT has jurisdiction to modify the scheme of amalgamation u/ss 230-232 read with Section 234 of the Companies Act, 2013. The amendment can be done at any stage. The NCLT Mumbai, while seized of a First Motion Petition, passed directions for changing the valuation and swap ratio. The proposed modification does not require further adherence to regulations for inbound merger or additional approval from the Reserve Bank of India as per FEMA Notification No. FEMA.389/2018-RB. If the impugned order is allowed, the scheme will have to be remodified, resulting in lengthy compliances undertaken for the third time. Therefore, the impugned order is liable to be set aside, and the appeal with the prayers stands allowed.
The NCLT has jurisdiction to modify the scheme of amalgamation u/ss 230-232 read with Section 234 of the Companies Act, 2013. The amendment can be done at any stage. The NCLT Mumbai, while seized of a First Motion Petition, passed directions for changing the valuation and swap ratio. The proposed modification does not require further adherence to regulations for inbound merger or additional approval from the Reserve Bank of India as per FEMA Notification No. FEMA.389/2018-RB. If the impugned order is allowed, the scheme will have to be remodified, resulting in lengthy compliances undertaken for the third time. Therefore, the impugned order is liable to be set aside, and the appeal with the prayers stands allowed.
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