Imported menthol-scented sweet supari classification dispute: seizure quashed, release for home consumption subject to duty bond; bank guarantee refus...
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...
Whether the approved resolution plan was liable to be rejected for alleged non-compliance with s.29A(g) IBC turned on the time at which ineligibility must be assessed. Applying the principle that disqualification of a successful resolution applicant is to be tested as on the date of submission of the resolution plan, and relying on the resolution professional's confirmation and independent professional certifications showing no ineligibility on that date, the finding that the plan was non-compliant with s.29A(g) was set aside. The plan was remitted for fresh consideration by the adjudicating authority within a stipulated time, and the appeal was disposed of. - NCLAT
Whether the approved resolution plan was liable to be rejected for alleged non-compliance with s.29A(g) IBC turned on the time at which ineligibility must be assessed. Applying the principle that disqualification of a successful resolution applicant is to be tested as on the date of submission of the resolution plan, and relying on the resolution professional's confirmation and independent professional certifications showing no ineligibility on that date, the finding that the plan was non-compliant with s.29A(g) was set aside. The plan was remitted for fresh consideration by the adjudicating authority within a stipulated time, and the appeal was disposed of. - NCLAT
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