Electronic certificates of origin enable preferential tariffs under the India-New Zealand FTA when format, verification, and filing requirements are m...
Customs approval for liquid cargo exports extends designated jetty operations while existing boarding station and customs area limits remain unchanged...
Mandatory compliance document verification now conditions out-of-charge clearance for imported cosmetics, drugs, and medical devices through PGA-facil...
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Personal guarantor insolvency resolution applications must pursue a genuine repayment plan and cannot use the interim moratorium to obstruct secured-creditor enforcement of security interests. Failure to attempt repayment after a demand notice, coupled with filings made immediately after possession notices, indicates that the process is being used to stall recovery rather than achieve resolution. Section 94 is intended for personal guarantors genuinely seeking a repayment-based insolvency resolution process; use of Section 96 as a shield against SARFAESI possession proceedings constitutes misuse. On these facts, rejection of the second insolvency application and dismissal of the appeal were upheld.
Personal guarantor insolvency resolution applications must pursue a genuine repayment plan and cannot use the interim moratorium to obstruct secured-creditor enforcement of security interests. Failure to attempt repayment after a demand notice, coupled with filings made immediately after possession notices, indicates that the process is being used to stall recovery rather than achieve resolution. Section 94 is intended for personal guarantors genuinely seeking a repayment-based insolvency resolution process; use of Section 96 as a shield against SARFAESI possession proceedings constitutes misuse. On these facts, rejection of the second insolvency application and dismissal of the appeal were upheld.
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