Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
Reassessment against a deceased assessee: procedural defect mandates fresh reassessment; nonresponsive petitioner may be treated as legal representati...
Financial default and threshold: Tribunal found the financial creditor proved debt and default under the loan agreements and that the default amount exceeded the statutory threshold, therefore the adjudicating authority's initiation of CIRP was justified - order upheld. Scope of CIRP and relevance of securities: holding that where securities are confined to specified projects, CIRP and the moratorium cannot engulf unrelated projects; CIRP is limited to projects listed in the security/sanction documents (Mother City Lucknow, Mother City Extension including Sushant Golf City, and specified Ajmer, Jodhpur and Jaipur projects) and must proceed project-wise with resolution modality to be determined by the adjudicating authority. - NCLAT
Financial default and threshold: Tribunal found the financial creditor proved debt and default under the loan agreements and that the default amount exceeded the statutory threshold, therefore the adjudicating authority's initiation of CIRP was justified - order upheld. Scope of CIRP and relevance of securities: holding that where securities are confined to specified projects, CIRP and the moratorium cannot engulf unrelated projects; CIRP is limited to projects listed in the security/sanction documents (Mother City Lucknow, Mother City Extension including Sushant Golf City, and specified Ajmer, Jodhpur and Jaipur projects) and must proceed project-wise with resolution modality to be determined by the adjudicating authority. - NCLAT
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