Opportunity to respond to jurisdictional reports is mandatory before customs settlement duty enhancement; connected applications require consistent ad...
Specific customs headings for scaffolding components prevail over general classification, invalidating misclassification proceedings and enabling with...
Liquidator appointment under Section 34 requires consideration of creditor recommendations, valid professional authorisation, and preservation of vali...
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The NCLAT dismissed the appeal, holding that the Resolution Professional had jurisdiction to file an application for withdrawal of CIRP u/s 12A of the IBC. The NCLAT relied on the Supreme Court's judgment in GLAS Trust Company LLC, which held that after admission of CIRP, the proceedings become in rem, and the Resolution Professional must conduct them. The NCLAT found no error in the Adjudicating Authority's order permitting withdrawal of the Section 12A application after the claim of a creditor was admitted, necessitating reconstitution of the CoC. The appeal against the earlier order became infructuous due to the subsequent order.
The NCLAT dismissed the appeal, holding that the Resolution Professional had jurisdiction to file an application for withdrawal of CIRP u/s 12A of the IBC. The NCLAT relied on the Supreme Court's judgment in GLAS Trust Company LLC, which held that after admission of CIRP, the proceedings become in rem, and the Resolution Professional must conduct them. The NCLAT found no error in the Adjudicating Authority's order permitting withdrawal of the Section 12A application after the claim of a creditor was admitted, necessitating reconstitution of the CoC. The appeal against the earlier order became infructuous due to the subsequent order.
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