Judicial review of settlement orders cannot reopen settled customs notices, while statutory interest remains subject to verification and quantificatio...
Customs Broker licence lending for consideration justified revocation where exporter authorisation and client verification obligations were also breac...
Fraudulent import documents suspend limitation protection, while redemption of confiscated goods requires duty and interest despite bona fide purchase...
ODR arbitration participation remains mandatory after failed conciliation, while jurisdictional and maintainability objections stay available before t...
Transparency in technical bid evaluation requires disclosed standards and recorded reasons; opaque scoring invalidated tender awards and required fres...
Automated export obligation extensions remove separate regional applications after committee approval for Advance Authorisation and EPCG authorisation...
International cargo transhipment through Indian ports continues with Customs-controlled storage, re-export safeguards, and coordinated multi-station m...
A financial debt under the IBC requires disbursement to the borrower against consideration for the time value of money. Here, the appellant had only allowed its properties to be used as collateral for the corporate debtor's bank borrowing, and the post-dated cheques and indemnity did not create a disbursement by the appellant or a security interest in favour of the corporate debtor. The NCLAT therefore set aside the classification of the appellant as a secured financial creditor. It also held that the claim was filed within time and was not rejectable as delayed, but the appellant's entitlement could be admitted only as an other creditor, subject to the resolution plan.
A financial debt under the IBC requires disbursement to the borrower against consideration for the time value of money. Here, the appellant had only allowed its properties to be used as collateral for the corporate debtor's bank borrowing, and the post-dated cheques and indemnity did not create a disbursement by the appellant or a security interest in favour of the corporate debtor. The NCLAT therefore set aside the classification of the appellant as a secured financial creditor. It also held that the claim was filed within time and was not rejectable as delayed, but the appellant's entitlement could be admitted only as an other creditor, subject to the resolution plan.
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