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...
NCLAT held that a shareholder had no locus to reopen concluded insolvency proceedings or to agitate the corporate debtor's grievance after approval and implementation of the resolution plan. It found that repeated challenges based on the same memorandum of understanding and alleged fraud had already been rejected through prior proceedings, including appellate and Supreme Court scrutiny, and that the later application was a belated, suppressed and de novo attempt to relitigate settled issues. The Tribunal also held that NCLT's inherent powers could not be used to compel criminal action in a civil insolvency forum. The appeal was dismissed with costs for abuse of process.
NCLAT held that a shareholder had no locus to reopen concluded insolvency proceedings or to agitate the corporate debtor's grievance after approval and implementation of the resolution plan. It found that repeated challenges based on the same memorandum of understanding and alleged fraud had already been rejected through prior proceedings, including appellate and Supreme Court scrutiny, and that the later application was a belated, suppressed and de novo attempt to relitigate settled issues. The Tribunal also held that NCLT's inherent powers could not be used to compel criminal action in a civil insolvency forum. The appeal was dismissed with costs for abuse of process.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
