Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offic...
Customs Cargo Service Provider appointment extends custodianship to additional terminal land, subject to cargo-control, security and licence condition...
Section 7 proceedings based on a money decree cannot be used as a substitute for execution where the real dispute concerns computation of the decretal balance and ordinary enforcement remedies remain available. The Court reiterated that the IBC is meant for genuine insolvency and revival, not coercive debt recovery; on these facts, the corporate debtor was solvent, substantial payments had already been made, and the computation issue was already pending before the Delhi High Court. Although a money decree may in principle give rise to a fresh cause of action for insolvency proceedings, that principle is not automatic and the adjudicating forum must still guard against abuse. The NCLAT erred in treating the decree alone as sufficient; the insolvency application was restored to dismissal and execution was left open as the proper remedy.
Section 7 proceedings based on a money decree cannot be used as a substitute for execution where the real dispute concerns computation of the decretal balance and ordinary enforcement remedies remain available. The Court reiterated that the IBC is meant for genuine insolvency and revival, not coercive debt recovery; on these facts, the corporate debtor was solvent, substantial payments had already been made, and the computation issue was already pending before the Delhi High Court. Although a money decree may in principle give rise to a fresh cause of action for insolvency proceedings, that principle is not automatic and the adjudicating forum must still guard against abuse. The NCLAT erred in treating the decree alone as sufficient; the insolvency application was restored to dismissal and execution was left open as the proper remedy.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4821 
Join Channel 
