Classification of exported insecticides under export tariff affirmed; reclassification and related penalties set aside and MEIS scrip jurisdiction rec...
Misclassification between copra and dry coconut: customs recovery and re-valuation quashed for lack of prior licensing-authority invalidation, appeals...
Initiation of the Corporate Insolvency Resolution Process is permissible despite pending Company Court proceedings where statutory timelines for a Scheme of Arrangement were missed; the Rules of 2016 required transfer of unresolved second-motion proceedings to the Tribunal, and a belated unacted application is incompetent and should have been transferred. The Insolvency and Bankruptcy Code prevails over inconsistent provisions of the Companies Act, permitting CIRP priority and appointment and powers of an Interim Resolution Professional during moratorium. A scheme or compromise may still be considered within an IBC proceeding at the appropriate stage; the appellate order was set aside and the Tribunal's CIRP direction restored.
Initiation of the Corporate Insolvency Resolution Process is permissible despite pending Company Court proceedings where statutory timelines for a Scheme of Arrangement were missed; the Rules of 2016 required transfer of unresolved second-motion proceedings to the Tribunal, and a belated unacted application is incompetent and should have been transferred. The Insolvency and Bankruptcy Code prevails over inconsistent provisions of the Companies Act, permitting CIRP priority and appointment and powers of an Interim Resolution Professional during moratorium. A scheme or compromise may still be considered within an IBC proceeding at the appropriate stage; the appellate order was set aside and the Tribunal's CIRP direction restored.
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