Imported analyser diagnostic cartridges treated as accessories with analyser system, not standalone diagnostic reagents; extended limitation and penal...
Steel-timber construction shuttering/formwork tariff classification dispute: essential character held steel, classified as shuttering under Heading 73...
Family-linked property purchases using fabricated loan agreements and benami-style arrangements held to be crime proceeds; attachment upheld, appeal d...
Validity of auction cancellation under the e-Auction Process Memorandum and IBBI Liquidation Regulations was examined: where a successful bidder fails to pay the balance within the prescribed period (including permitted extensions), the liquidator may cancel the sale and re-auction-cancellation was upheld. Clause 11 permitted forfeiture of the EMD for non payment and that forfeiture was sustained. Applying restitutionary principles to prevent unjust enrichment, the Tribunal held that retention of an additional 25% deposit could not be sustained where the liquidator recovered the same sale consideration in a subsequent auction, and directed refund of that deposit with interest.
Validity of auction cancellation under the e-Auction Process Memorandum and IBBI Liquidation Regulations was examined: where a successful bidder fails to pay the balance within the prescribed period (including permitted extensions), the liquidator may cancel the sale and re-auction-cancellation was upheld. Clause 11 permitted forfeiture of the EMD for non payment and that forfeiture was sustained. Applying restitutionary principles to prevent unjust enrichment, the Tribunal held that retention of an additional 25% deposit could not be sustained where the liquidator recovered the same sale consideration in a subsequent auction, and directed refund of that deposit with interest.
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