Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
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NCLAT upheld the Adjudicating Authority's order, holding that the movables and inventory lying in the leased premises formed part of the liquidation estate of the corporate debtor under S.36 IBC. The burden to rebut the presumption of ownership lay on the appellant, who failed to produce credible contemporaneous evidence before the Adjudicating Authority or NCLAT, including invoices supporting the SAP records. NCLAT noted the appellant's prolonged inaction and held there was tacit acquiescence to the corporate debtor's ownership, especially as the appellant, a signatory to the SPA, had opportunity to object during CIRP and liquidation. As the assets were already sold, sale certificate issued, and proceeds distributed, NCLAT found no infirmity or ground for interference and dismissed the appeal.
NCLAT upheld the Adjudicating Authority's order, holding that the movables and inventory lying in the leased premises formed part of the liquidation estate of the corporate debtor under S.36 IBC. The burden to rebut the presumption of ownership lay on the appellant, who failed to produce credible contemporaneous evidence before the Adjudicating Authority or NCLAT, including invoices supporting the SAP records. NCLAT noted the appellant's prolonged inaction and held there was tacit acquiescence to the corporate debtor's ownership, especially as the appellant, a signatory to the SPA, had opportunity to object during CIRP and liquidation. As the assets were already sold, sale certificate issued, and proceeds distributed, NCLAT found no infirmity or ground for interference and dismissed the appeal.
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