Post-search scrutiny assessment remains available where original assessment limitation is unexpired, permitting timely completion under regular assess...
Independent show-cause notices remain separate proceedings, while customs adjudication challenges should ordinarily follow the statutory appellate rem...
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A personal guarantor's Section 94 application, filed after an e-auction had been held and confirmed under SARFAESI, was found to be a non-bona fide attempt to delay recovery rather than a genuine insolvency resolution step. The Tribunal held that the filing was an abuse of process because the bank had already enforced its security rights and the guarantor had also pursued a separate challenge before the DRT, which was the appropriate remedy. The rejection of the applications was therefore upheld, and the appellant was left to continue contesting the auction before the DRT.
A personal guarantor's Section 94 application, filed after an e-auction had been held and confirmed under SARFAESI, was found to be a non-bona fide attempt to delay recovery rather than a genuine insolvency resolution step. The Tribunal held that the filing was an abuse of process because the bank had already enforced its security rights and the guarantor had also pursued a separate challenge before the DRT, which was the appropriate remedy. The rejection of the applications was therefore upheld, and the appellant was left to continue contesting the auction before the DRT.
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