Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
Benami Act is a self-contained statutory code providing for...
Benami property exclusion from the insolvency estate: Benami Act proceedings preclude IBC tribunals from reopening attachments or treating such assets as estate property.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Benami Act is a self-contained statutory code providing for identification, provisional attachment, adjudication and confiscation of benami property, and its adjudicatory hierarchy has exclusive jurisdiction over such matters; therefore insolvency forums under the IBC cannot re-open or determine the legality of Benami Act attachments. Property held benami is not beneficially owned by the corporate debtor and thus falls outside the liquidation estate; moratorium under the IBC does not obstruct sovereign attachment proceedings. Attempts to challenge Benami Act orders before IBC tribunals amount to abuse of process and are not a lawful route for creditors or debtors.
Benami Act is a self-contained statutory code providing for identification, provisional attachment, adjudication and confiscation of benami property, and its adjudicatory hierarchy has exclusive jurisdiction over such matters; therefore insolvency forums under the IBC cannot re-open or determine the legality of Benami Act attachments. Property held benami is not beneficially owned by the corporate debtor and thus falls outside the liquidation estate; moratorium under the IBC does not obstruct sovereign attachment proceedings. Attempts to challenge Benami Act orders before IBC tribunals amount to abuse of process and are not a lawful route for creditors or debtors.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
