Courier transshipment of imported goods via named carrier to air cargo stations renewed until 30.01.2026; exemption conditional, strict controls apply...
Insurer's investment gains and investment write-downs face Section 263 revision; enquiry upheld, Rule 5(b)(ii) lapse sustained, late corrigendum quash...
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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