International transaction characterisation of domestic divestment of support services business rejected; transaction between resident associated enter...
Minimum Import Price restrictions for Black Pepper, Areca-nuts and Apples upheld; procedural laying failure not fatal, notifications to be placed befo...
Transaction value between related persons requires market-equivalent pricing; importer must prove declared value mirrors ordinary international trade ...
Classification of exported insecticides under export tariff affirmed; reclassification and related penalties set aside and MEIS scrip jurisdiction rec...
A liquidator's later application seeking completion of sale of the corporate debtor as a going concern and wide-ranging reliefs was held not maintainable because an earlier application for similar reliefs had been withdrawn without liberty and had attained finality, attracting constructive res judicata. The Tribunal also held that the successful bidder was bound by the auction terms, which sold the asset on an "as is where is", "as is what is", "whatever there is" and "without recourse" basis. In such a sale, the purchaser bears the burden of due diligence and cannot seek post-sale concessions or shift pre-existing risks through later proceedings, especially while challenges to the auction remain pending. The appeal was dismissed.
A liquidator's later application seeking completion of sale of the corporate debtor as a going concern and wide-ranging reliefs was held not maintainable because an earlier application for similar reliefs had been withdrawn without liberty and had attained finality, attracting constructive res judicata. The Tribunal also held that the successful bidder was bound by the auction terms, which sold the asset on an "as is where is", "as is what is", "whatever there is" and "without recourse" basis. In such a sale, the purchaser bears the burden of due diligence and cannot seek post-sale concessions or shift pre-existing risks through later proceedings, especially while challenges to the auction remain pending. The appeal was dismissed.
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