Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
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The Tribunal set aside the order of the licensing authority that revoked and forfeited the security deposit of a Customs Broker. The licensing authority alleged breach of regulations 10(d), 10(e), and 10(f) of the Customs Brokers Licensing Regulations, 2018. However, the Tribunal found that the substantial delay between the offence report in May 2022 and the final determination in January 2024 violated the timelines prescribed in Regulation 17 of the said Regulations. The licensing authority's attempt to justify the delay by citing transfer of officers was rejected, as the authority is responsible for efficient discharge of statutory and administrative roles. The Tribunal held that the mandatory stipulations in Regulation 17 were treated as directory without adhering to the Bombay High Court's decision in Unison Clearing Pvt. Ltd. case, rendering the proceedings invalid at the threshold.
The Tribunal set aside the order of the licensing authority that revoked and forfeited the security deposit of a Customs Broker. The licensing authority alleged breach of regulations 10(d), 10(e), and 10(f) of the Customs Brokers Licensing Regulations, 2018. However, the Tribunal found that the substantial delay between the offence report in May 2022 and the final determination in January 2024 violated the timelines prescribed in Regulation 17 of the said Regulations. The licensing authority's attempt to justify the delay by citing transfer of officers was rejected, as the authority is responsible for efficient discharge of statutory and administrative roles. The Tribunal held that the mandatory stipulations in Regulation 17 were treated as directory without adhering to the Bombay High Court's decision in Unison Clearing Pvt. Ltd. case, rendering the proceedings invalid at the threshold.
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