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 second charge created under a consent decree and consequential deed of charge was upheld as a valid security interest where the first charge holder's priority remained expressly preserved and the second charge operated only after discharge of the first charge. The Tribunal held that absence of the first charge holder's prior consent did not render the second charge a nullity, and the liquidator was bound by the decree and deed. It also held that Regulation 21 of the Liquidation Process Regulations is enabling, not exhaustive, so security interest may be proved by other valid material. Non-registration under Section 77 of the Companies Act was not, by itself, enough to deny secured status. The appeal was dismissed.
A second charge created under a consent decree and consequential deed of charge was upheld as a valid security interest where the first charge holder's priority remained expressly preserved and the second charge operated only after discharge of the first charge. The Tribunal held that absence of the first charge holder's prior consent did not render the second charge a nullity, and the liquidator was bound by the decree and deed. It also held that Regulation 21 of the Liquidation Process Regulations is enabling, not exhaustive, so security interest may be proved by other valid material. Non-registration under Section 77 of the Companies Act was not, by itself, enough to deny secured status. The appeal was dismissed.
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