Person chargeable with duty must be the importer at importation; subsequent purchasers cannot be held liable where beneficial owner rules did not appl...
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...
Personal guarantors disputed admission of an insolvency application under s.95 IBC by claiming full repayment, faulty verification in the s.99 report, pendency of DRT recovery proceedings, and defective notice. Guarantor liability was held to continue for the unpaid balance because an approved resolution plan binds stakeholders under s.31 IBC and, absent an express discharge, guarantors remain co-extensively liable under s.128 Contract Act; no no-dues/settlement/novation or other extinguishment document was proved, so the plea of discharge failed. Pendency of DRT proceedings was held not to bar s.95 action, so admission was upheld. Alleged notice/verification lapses caused no prejudice where debt and default stood established, so the appeals were dismissed. - NCLAT
Personal guarantors disputed admission of an insolvency application under s.95 IBC by claiming full repayment, faulty verification in the s.99 report, pendency of DRT recovery proceedings, and defective notice. Guarantor liability was held to continue for the unpaid balance because an approved resolution plan binds stakeholders under s.31 IBC and, absent an express discharge, guarantors remain co-extensively liable under s.128 Contract Act; no no-dues/settlement/novation or other extinguishment document was proved, so the plea of discharge failed. Pendency of DRT proceedings was held not to bar s.95 action, so admission was upheld. Alleged notice/verification lapses caused no prejudice where debt and default stood established, so the appeals were dismissed. - NCLAT
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