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 NCLAT dismissed the appeal and upheld the impugned order refusing access to the first set of valuation reports to the suspended management of the corporate debtor. The Tribunal held the resolution professional acted within the statutory scheme of Section 24 of the IBC and CIRP Regulation 35(2): voting and full member rights of CoC are distinct from participative status of suspended directors, and confidential valuation material need not be furnished to persons bereft of voting rights. The RP's omission to circulate two valuers' reports with the earlier notice was attributable to their receipt on the meeting date, not wilful non-compliance, and the Appellant was permitted to participate in non-confidential agenda items. No interference was warranted; appeal dismissed.
The NCLAT dismissed the appeal and upheld the impugned order refusing access to the first set of valuation reports to the suspended management of the corporate debtor. The Tribunal held the resolution professional acted within the statutory scheme of Section 24 of the IBC and CIRP Regulation 35(2): voting and full member rights of CoC are distinct from participative status of suspended directors, and confidential valuation material need not be furnished to persons bereft of voting rights. The RP's omission to circulate two valuers' reports with the earlier notice was attributable to their receipt on the meeting date, not wilful non-compliance, and the Appellant was permitted to participate in non-confidential agenda items. No interference was warranted; appeal dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4827 
Join Channel 
