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 ...
A party instituted a civil declaratory suit challenging initiation of CIRP, disputing existence of a legally enforceable debt and alleging fraud/forgery in documents including an assignment deed, while seeking to bypass the IBC framework. The Court held that although the NCLT, while admitting a Section 7 application, cannot adjudicate pre-existing disputes about the debt, the IBC vests the NCLT with jurisdiction under Sections 65, 75 and 60(5)(c) read with the NCLT Rules to examine fraud, collusion, and veracity of documents, with consequences extending to continuation of CIRP. The civil suit was an impermissible collateral attack barred by IBC ouster provisions; the plaint was rejected under Order VII Rule 11 CPC - HC
A party instituted a civil declaratory suit challenging initiation of CIRP, disputing existence of a legally enforceable debt and alleging fraud/forgery in documents including an assignment deed, while seeking to bypass the IBC framework. The Court held that although the NCLT, while admitting a Section 7 application, cannot adjudicate pre-existing disputes about the debt, the IBC vests the NCLT with jurisdiction under Sections 65, 75 and 60(5)(c) read with the NCLT Rules to examine fraud, collusion, and veracity of documents, with consequences extending to continuation of CIRP. The civil suit was an impermissible collateral attack barred by IBC ouster provisions; the plaint was rejected under Order VII Rule 11 CPC - HC
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