Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Liability for short-levied customs duty arising from a Customs House Agents substitution and misappropriation was examined; where importers bona fide tendered payment by demand drafts to their CHA and documentary bank evidence supported that tender, liability for unpaid duty and penalties was attributed to the CHAs misconduct and not to the importers, resulting in annulment of the demand and penalties. The consequences of forged or substituted Bills of Entry, misappropriation of deposit accounts, and implications for MODVAT/central excise credit claims and supervision of bonded procedures were addressed as collateral issues.
Liability for short-levied customs duty arising from a Customs House Agents substitution and misappropriation was examined; where importers bona fide tendered payment by demand drafts to their CHA and documentary bank evidence supported that tender, liability for unpaid duty and penalties was attributed to the CHAs misconduct and not to the importers, resulting in annulment of the demand and penalties. The consequences of forged or substituted Bills of Entry, misappropriation of deposit accounts, and implications for MODVAT/central excise credit claims and supervision of bonded procedures were addressed as collateral issues.
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