Mis-declaration in import descriptions must be deliberate to justify confiscation; withheld contemporaneous import documents invalidate value redeterm...
Liability for EPCG export shortfall: duty and interest sustained, but confiscation and penalties quashed where no fraud and causes beyond importer con...
Maintainability of insolvency petitions by real estate allottees was examined, rejecting the corporate debtor's contention that the allottees were speculative investors where prior consent terms had already treated them as financial creditors, and holding that breach of settlement does not preclude a Section 7 application. The corporate debtor bears the burden to prove allotted unit numbers for threshold assessment. The matter is remanded for the adjudicating authority to determine whether the allottee applicants meet the statutory numerical threshold, with liberty granted to the corporate debtor and allottees to file additional affidavits and replies and for consequential orders if the threshold is satisfied.
Maintainability of insolvency petitions by real estate allottees was examined, rejecting the corporate debtor's contention that the allottees were speculative investors where prior consent terms had already treated them as financial creditors, and holding that breach of settlement does not preclude a Section 7 application. The corporate debtor bears the burden to prove allotted unit numbers for threshold assessment. The matter is remanded for the adjudicating authority to determine whether the allottee applicants meet the statutory numerical threshold, with liberty granted to the corporate debtor and allottees to file additional affidavits and replies and for consequential orders if the threshold is satisfied.
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