Minimum Import Price restrictions for Black Pepper, Areca-nuts and Apples upheld; procedural laying failure not fatal, notifications to be placed befo...
Transaction value between related persons requires market-equivalent pricing; importer must prove declared value mirrors ordinary international trade ...
Classification of exported insecticides under export tariff affirmed; reclassification and related penalties set aside and MEIS scrip jurisdiction rec...
Misclassification between copra and dry coconut: customs recovery and re-valuation quashed for lack of prior licensing-authority invalidation, appeals...
Petitions under s.94 IBC were dismissed for failure to serve copies on the resolution professional (RP) and for non-filing of the s.99 report. The tribunal held that RP's failure to file the report cannot, by itself, justify dismissal; the Adjudicating Authority must secure the report or replace the RP. However, the petitioners' own non-compliance with directions to serve the RP led to an extended moratorium that materially impaired the creditor's right to enforce the personal guarantee, and granting relief would confer an unmerited further advantage. The invocation of inherent powers under Rule 11 NCLT Rules was upheld; dismissal was confirmed and the appeals were rejected. - NCLAT
Petitions under s.94 IBC were dismissed for failure to serve copies on the resolution professional (RP) and for non-filing of the s.99 report. The tribunal held that RP's failure to file the report cannot, by itself, justify dismissal; the Adjudicating Authority must secure the report or replace the RP. However, the petitioners' own non-compliance with directions to serve the RP led to an extended moratorium that materially impaired the creditor's right to enforce the personal guarantee, and granting relief would confer an unmerited further advantage. The invocation of inherent powers under Rule 11 NCLT Rules was upheld; dismissal was confirmed and the appeals were rejected. - NCLAT
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