Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
The IBBI promulgated the Fifth Amendment Regulations, 2025, amending the Insolvency Resolution Process for Corporate Persons Regulations, 2016. Key modifications include mandating disclosure of all identified avoidance transactions and fraudulent or wrongful trading details in the information memorandum and subsequent filings before the Adjudicating Authority. Resolution plans must not assign avoidance transactions or fraudulent trading liabilities unless disclosed to prospective resolution applicants prior to the submission deadline. These amendments apply prospectively, excluding resolution plans submitted before the commencement date of the Fifth Amendment. This regulatory update enhances transparency and accountability in insolvency resolution processes under the IBC framework.
The IBBI promulgated the Fifth Amendment Regulations, 2025, amending the Insolvency Resolution Process for Corporate Persons Regulations, 2016. Key modifications include mandating disclosure of all identified avoidance transactions and fraudulent or wrongful trading details in the information memorandum and subsequent filings before the Adjudicating Authority. Resolution plans must not assign avoidance transactions or fraudulent trading liabilities unless disclosed to prospective resolution applicants prior to the submission deadline. These amendments apply prospectively, excluding resolution plans submitted before the commencement date of the Fifth Amendment. This regulatory update enhances transparency and accountability in insolvency resolution processes under the IBC framework.
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