Person chargeable with duty must be the importer at importation; subsequent purchasers cannot be held liable where beneficial owner rules did not appl...
Prohibited importation of cosmetics without prior regulatory registration attracts seizure and confiscation; warehousing or re export claims do not cu...
Provisional release on security permitted where cash deposit plus bond secures differential duty; classification and treaty benefits referred for deci...
Customs Valuation Rule Sequence must be followed; single-comparator re-determination and penalties set aside without comparability or proof of mis-dec...
CIRP-generated surplus cash flow was held not to vest in the successful resolution applicant because the approved resolution plan contained no express provision dealing with that surplus. The Tribunal read clauses 3.9.5, 3.9.8 and 4.1(ii) as covering margin money, fixed deposits and temporary utilisation for foreclosure, but not creating any proprietary right over surplus generated while the corporate debtor remained under the Resolution Professional's control. In the absence of contractual allocation in the plan, the surplus retained its character as part of the insolvency estate and was directed to be distributed under Section 53. That direction was treated as addressing a matter not contemplated by the plan, not as modifying the approved resolution plan.
CIRP-generated surplus cash flow was held not to vest in the successful resolution applicant because the approved resolution plan contained no express provision dealing with that surplus. The Tribunal read clauses 3.9.5, 3.9.8 and 4.1(ii) as covering margin money, fixed deposits and temporary utilisation for foreclosure, but not creating any proprietary right over surplus generated while the corporate debtor remained under the Resolution Professional's control. In the absence of contractual allocation in the plan, the surplus retained its character as part of the insolvency estate and was directed to be distributed under Section 53. That direction was treated as addressing a matter not contemplated by the plan, not as modifying the approved resolution plan.
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