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...
Estoppel by acceptance of payment prevents appellants who unconditionally accepted amounts under the approved resolution plan from belatedly challenging the plan or prior partial rejection of their claims; those appellants are estopped and their appeals dismissed. Claims not substantiated by the proof mandated under Regulation 19 and Schedule II (Form E/Form F and supporting material) were rightly partially rejected by the Liquidator and cannot be reopened on appeal. Judicial interference with a resolution plan approved by 100% of the CoC is very limited; the plan's provision for priority payment of statutory employee dues (EPF, gratuity, earned leave) and enforcement mechanisms was held adequate, directing the RP and applicant to ensure remittance.
Estoppel by acceptance of payment prevents appellants who unconditionally accepted amounts under the approved resolution plan from belatedly challenging the plan or prior partial rejection of their claims; those appellants are estopped and their appeals dismissed. Claims not substantiated by the proof mandated under Regulation 19 and Schedule II (Form E/Form F and supporting material) were rightly partially rejected by the Liquidator and cannot be reopened on appeal. Judicial interference with a resolution plan approved by 100% of the CoC is very limited; the plan's provision for priority payment of statutory employee dues (EPF, gratuity, earned leave) and enforcement mechanisms was held adequate, directing the RP and applicant to ensure remittance.
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