CKD/SKD air-conditioner components classifiable with finished units by essential character; prior advance ruling extended three years, FTA benefits po...
Scope of judicial review under Article 226: supervisory, not appellate; factual reappraisal barred, challenge dismissed; insolvency professional dutie...
Courier transshipment of imported goods via named carrier to air cargo stations renewed until 30.01.2026; exemption conditional, strict controls apply...
SC upheld the termination of the Development and Supplementary Agreements by Respondent No.1 Society as lawful, effective and based on prolonged contractual defaults unrelated to insolvency. It held that the developer only had a limited licence, with no proprietary or transferable interest in the land; hence no "asset" or "property" of the corporate debtor subsisted on the second CIRP commencement date, and Section 14 IBC moratorium could not revive or protect extinguished contractual rights. NCLT lacked jurisdiction under Section 60(5)(c) IBC to interfere with such termination. SC further held that HC rightly exercised writ jurisdiction to direct processing of approvals for Respondent No.8 and that no violation of natural justice occurred. The appeal was dismissed.
SC upheld the termination of the Development and Supplementary Agreements by Respondent No.1 Society as lawful, effective and based on prolonged contractual defaults unrelated to insolvency. It held that the developer only had a limited licence, with no proprietary or transferable interest in the land; hence no "asset" or "property" of the corporate debtor subsisted on the second CIRP commencement date, and Section 14 IBC moratorium could not revive or protect extinguished contractual rights. NCLT lacked jurisdiction under Section 60(5)(c) IBC to interfere with such termination. SC further held that HC rightly exercised writ jurisdiction to direct processing of approvals for Respondent No.8 and that no violation of natural justice occurred. The appeal was dismissed.
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