Independent show-cause notices remain separate proceedings, while customs adjudication challenges should ordinarily follow the statutory appellate rem...
Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
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NCLAT upheld the liquidation order of the Corporate Debtor following CoC's unanimous (100%) resolution u/s 33(2) of IBC. While allegations were raised regarding forged documents in Section 7 admission and questionable conduct of Resolution Professional in claim verification, the tribunal found insufficient evidence of manipulation. The additional ledger documents from SVC Bank were deemed admissible as part of judicial record, establishing Corporate Debtor's position as co-borrower and Corporate Guarantor. Despite concerns about CoC's limited resolution efforts, NCLAT confirmed that Section 33(2) leaves minimal discretion when CoC resolves for liquidation with required majority. Given absence of assets and viable resolution options, the appeal was dismissed, affirming the Adjudicating Authority's liquidation order.
NCLAT upheld the liquidation order of the Corporate Debtor following CoC's unanimous (100%) resolution u/s 33(2) of IBC. While allegations were raised regarding forged documents in Section 7 admission and questionable conduct of Resolution Professional in claim verification, the tribunal found insufficient evidence of manipulation. The additional ledger documents from SVC Bank were deemed admissible as part of judicial record, establishing Corporate Debtor's position as co-borrower and Corporate Guarantor. Despite concerns about CoC's limited resolution efforts, NCLAT confirmed that Section 33(2) leaves minimal discretion when CoC resolves for liquidation with required majority. Given absence of assets and viable resolution options, the appeal was dismissed, affirming the Adjudicating Authority's liquidation order.
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