Prohibited importation of cosmetics without prior regulatory registration attracts seizure and confiscation; warehousing or re export claims do not cu...
Provisional release on security permitted where cash deposit plus bond secures differential duty; classification and treaty benefits referred for deci...
Customs Valuation Rule Sequence must be followed; single-comparator re-determination and penalties set aside without comparability or proof of mis-dec...
Separately Identifiable Services: transportation found to be the essential character, so Cargo Handling classification and extended limitation rejecte...
Pending one-time settlement negotiations with a bank consortium did not justify keeping Section 7 IBC proceedings in abeyance, since the settlement was never unconditionally approved by all consortium members and a borrower cannot claim OTS acceptance as a right; with debt and default undisputed, the financial creditor's statutory right to trigger CIRP could not be subordinated to any inter-creditor/consortium arrangement, leading to affirmation of CIRP admission. Consent of other consortium lenders was not a precondition for a single consortium member to file a standalone Section 7 application, so the admission order suffered no illegality and the appeal was dismissed. - NCLAT
Pending one-time settlement negotiations with a bank consortium did not justify keeping Section 7 IBC proceedings in abeyance, since the settlement was never unconditionally approved by all consortium members and a borrower cannot claim OTS acceptance as a right; with debt and default undisputed, the financial creditor's statutory right to trigger CIRP could not be subordinated to any inter-creditor/consortium arrangement, leading to affirmation of CIRP admission. Consent of other consortium lenders was not a precondition for a single consortium member to file a standalone Section 7 application, so the admission order suffered no illegality and the appeal was dismissed. - NCLAT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
