Imported menthol-scented sweet supari classification dispute: seizure quashed, release for home consumption subject to duty bond; bank guarantee refus...
CKD/SKD air-conditioner components classifiable with finished units by essential character; prior advance ruling extended three years, FTA benefits po...
Scope of judicial review under Article 226: supervisory, not appellate; factual reappraisal barred, challenge dismissed; insolvency professional dutie...
An operational creditor sought to assail approval of a CIRP resolution plan through collateral proceedings, contending prejudice in payments vis-Ã -vis liquidation value. The record showed the creditor had prior knowledge of the plan and CoC deliberations, including receipt of minutes before adjudicating authority approval, and had even acted on that knowledge by seeking to submit its own plan. Having failed to institute a proper statutory challenge to the plan approval within the prescribed framework, the creditor could not maintain an indirect, parallel challenge to reopen the plan. The appeals were dismissed and the plan approval was left undisturbed. - SC
An operational creditor sought to assail approval of a CIRP resolution plan through collateral proceedings, contending prejudice in payments vis-Ã -vis liquidation value. The record showed the creditor had prior knowledge of the plan and CoC deliberations, including receipt of minutes before adjudicating authority approval, and had even acted on that knowledge by seeking to submit its own plan. Having failed to institute a proper statutory challenge to the plan approval within the prescribed framework, the creditor could not maintain an indirect, parallel challenge to reopen the plan. The appeals were dismissed and the plan approval was left undisturbed. - SC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4814 
Join Channel 
