Courier transshipment of imported goods via named carrier to air cargo stations renewed until 30.01.2026; exemption conditional, strict controls apply...
Insurer's investment gains and investment write-downs face Section 263 revision; enquiry upheld, Rule 5(b)(ii) lapse sustained, late corrigendum quash...
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
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