Search and seizure: abatement of earlier search bars use of prior seized material in later search-based assessments; relief limited to new documents f...
Admission of additional evidence under remand rules must await a meaningful remand report; failure to do so breaches natural justice and mandates rema...
Export Obligation Discharge Certificates for EPCG compliance cannot be questioned by Customs unless DGFT adjudicates and cancels them, so demands quas...
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The dominant issue was whether the resolution plan, rejected under s.30(6) of the IBC amid objections on s.29A eligibility, should be approved in light of a post-impugned settlement. The tribunal accepted the settlement terms providing for payment of CIRP costs up to plan approval and enhanced payouts to secured and unsecured financial creditors, noting unanimous consent that approval would resolve grievances. It also held that adverse observations in the impugned order alleging impropriety were unduly excessive in the absence of any auditor finding of fraud or specific avoidance-transaction allegations, and therefore expunged them. Consequently, the impugned orders were quashed and the appeals were allowed. - NCLAT
The dominant issue was whether the resolution plan, rejected under s.30(6) of the IBC amid objections on s.29A eligibility, should be approved in light of a post-impugned settlement. The tribunal accepted the settlement terms providing for payment of CIRP costs up to plan approval and enhanced payouts to secured and unsecured financial creditors, noting unanimous consent that approval would resolve grievances. It also held that adverse observations in the impugned order alleging impropriety were unduly excessive in the absence of any auditor finding of fraud or specific avoidance-transaction allegations, and therefore expunged them. Consequently, the impugned orders were quashed and the appeals were allowed. - NCLAT
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