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...
Auction sale of an attached yacht belonging to the corporate debtor was challenged as violating the moratorium under s.14 IBC and was set aside by the adjudicating authority. Since the magistrate had permitted sale of the attached movable property and the auction was conducted before commencement of CIRP, s.14 IBC was inapplicable and the finding of moratorium breach was legally untenable; the auction was therefore not void. The adjudicating authority also lacked jurisdiction to interfere with an auction conducted pursuant to a criminal court's attachment/sale order, and no further directions were warranted regarding sale proceeds in this appeal; the impugned order was set aside and the appeal allowed. - NCLAT
Auction sale of an attached yacht belonging to the corporate debtor was challenged as violating the moratorium under s.14 IBC and was set aside by the adjudicating authority. Since the magistrate had permitted sale of the attached movable property and the auction was conducted before commencement of CIRP, s.14 IBC was inapplicable and the finding of moratorium breach was legally untenable; the auction was therefore not void. The adjudicating authority also lacked jurisdiction to interfere with an auction conducted pursuant to a criminal court's attachment/sale order, and no further directions were warranted regarding sale proceeds in this appeal; the impugned order was set aside and the appeal allowed. - NCLAT
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