Benami transaction and beneficial ownership: documentary and circumstantial evidence show payors were true beneficiaries, resulting in PBPTA consequen...
Denial of Preferential Treatment under SAFTA overturned where unchallenged Country of Origin certificate warranted exemption under Notification benefi...
Continuing offence of money-laundering: discharge set aside and proceedings reinstated where laundering continued after inclusion of predicate offence...
Whether statutory authorities could undertake post-CIRP assessment and raise claims for interest and damages under Sections 7Q and 14B for a pre-CIRP period was determined by applying the moratorium under Section 14 of the IBC. Relying on binding precedent, it was held that once moratorium is in force, no assessment proceedings can be carried out and, consequently, no such claim can be raised even if the liability relates to a period prior to CIRP. On this legal basis, the rejection of the applicant's claim/application was upheld and the appeal was dismissed. - NCLAT
Whether statutory authorities could undertake post-CIRP assessment and raise claims for interest and damages under Sections 7Q and 14B for a pre-CIRP period was determined by applying the moratorium under Section 14 of the IBC. Relying on binding precedent, it was held that once moratorium is in force, no assessment proceedings can be carried out and, consequently, no such claim can be raised even if the liability relates to a period prior to CIRP. On this legal basis, the rejection of the applicant's claim/application was upheld and the appeal was dismissed. - NCLAT
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