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...
Moratorium under Section 14 imposed on commencement of CIRP against the corporate debtor did not bar initiation of insolvency proceedings under Section 95 against the personal guarantor, since Section 14 restricts recovery from the corporate debtor and does not preclude enforcement against a personal guarantor; invocation of the guarantee after CIRP was therefore valid, and admission of the Section 95 application was upheld. Section 10A was held inapplicable because it only restricts applications under Sections 7, 9 and 10 and does not prohibit proceedings against personal guarantors under Part III; consequently, the Section 95 proceedings were not inhibited. The admission order was affirmed and the appeal was dismissed. - NCLAT
Moratorium under Section 14 imposed on commencement of CIRP against the corporate debtor did not bar initiation of insolvency proceedings under Section 95 against the personal guarantor, since Section 14 restricts recovery from the corporate debtor and does not preclude enforcement against a personal guarantor; invocation of the guarantee after CIRP was therefore valid, and admission of the Section 95 application was upheld. Section 10A was held inapplicable because it only restricts applications under Sections 7, 9 and 10 and does not prohibit proceedings against personal guarantors under Part III; consequently, the Section 95 proceedings were not inhibited. The admission order was affirmed and the appeal was dismissed. - NCLAT
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