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...
Interim finance raised during CIRP from a related party and concurrent appointment of related legal counsel created a conflict of interest and breached the fiduciary duty and transparency obligations of the resolution professional, warranting corrective action. The RP failed to place terms of the loan and CIRP costs before the CoC for informed approval, and appropriated interim funds largely for his own and the related lawyers fees, justifying reduction of fees recoverable. The Appellate Tribunal upheld findings of misuse, disallowed certain interim finance refunds for interest and processing fees, and moderated the RPs recovery to Rs. 50 lakhs.
Interim finance raised during CIRP from a related party and concurrent appointment of related legal counsel created a conflict of interest and breached the fiduciary duty and transparency obligations of the resolution professional, warranting corrective action. The RP failed to place terms of the loan and CIRP costs before the CoC for informed approval, and appropriated interim funds largely for his own and the related lawyers fees, justifying reduction of fees recoverable. The Appellate Tribunal upheld findings of misuse, disallowed certain interim finance refunds for interest and processing fees, and moderated the RPs recovery to Rs. 50 lakhs.
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