International transaction characterisation of domestic divestment of support services business rejected; transaction between resident associated enter...
Minimum Import Price restrictions for Black Pepper, Areca-nuts and Apples upheld; procedural laying failure not fatal, notifications to be placed befo...
Transaction value between related persons requires market-equivalent pricing; importer must prove declared value mirrors ordinary international trade ...
Classification of exported insecticides under export tariff affirmed; reclassification and related penalties set aside and MEIS scrip jurisdiction rec...
The dominant issue was whether 20.08.2024 to 28.05.2025 should be excluded from the CIRP timeline as a period during which the process could not effectively progress due to directions of the Adjudicating Authority. The tribunal held that CoC decision-making was restrained pending claim verification, and even where voting was permitted, implementation required prior leave, materially impeding CIRP progress; further, disputes and changes regarding the resolution professional also disrupted the process. Consequently, the impugned order was modified to grant exclusion of this 281-day period, while affirming the exclusion already granted for the other period; the appeal was disposed of. - NCLAT
The dominant issue was whether 20.08.2024 to 28.05.2025 should be excluded from the CIRP timeline as a period during which the process could not effectively progress due to directions of the Adjudicating Authority. The tribunal held that CoC decision-making was restrained pending claim verification, and even where voting was permitted, implementation required prior leave, materially impeding CIRP progress; further, disputes and changes regarding the resolution professional also disrupted the process. Consequently, the impugned order was modified to grant exclusion of this 281-day period, while affirming the exclusion already granted for the other period; the appeal was disposed of. - NCLAT
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