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...
Right of appeal under Section 61 is confined to a person whose legal rights are directly affected, and a collateral grievance from a separate CIRP does not confer locus standi. The appellant was not a stakeholder in the CIRP of Afcan Impex Pvt. Ltd., so it was not a person aggrieved. On merits, the Tribunal found no established ineligibility of the resolution applicant under Section 29A: mere association with another company in CIRP was insufficient, no NPA classification material was shown, and disqualification under Section 164 could not be presumed without a formal declaration. Fresh objections were also not entertained in appeal, and the implemented resolution plan was treated as final.
Right of appeal under Section 61 is confined to a person whose legal rights are directly affected, and a collateral grievance from a separate CIRP does not confer locus standi. The appellant was not a stakeholder in the CIRP of Afcan Impex Pvt. Ltd., so it was not a person aggrieved. On merits, the Tribunal found no established ineligibility of the resolution applicant under Section 29A: mere association with another company in CIRP was insufficient, no NPA classification material was shown, and disqualification under Section 164 could not be presumed without a formal declaration. Fresh objections were also not entertained in appeal, and the implemented resolution plan was treated as final.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
