https://www.taxtmi.com/caselaws?id=415067 The court found the writ petition maintainable under Article 226/227 of the Constitution of India, as the National Company Law Tribunal (NCLT) lacked jurisdiction over ownership disputes not recorded in a corporate debtor's balance sheet. The petitioner retained ownership of the sugar consignment due to unpaid status of the buyer. The NCLT and Resolution Professional's jurisdiction under the Insolvency and Bankruptcy Code, 2016 was limited to recorded assets, excluding the sugar consignment. The court directed officials to assess the petitioner's request for re-export within four weeks, emphasizing customs authorities' involvement. en-us Mon, 01 Nov 2021 00:00:00 +0530 Fri, 26 Aug 2022 10:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415067 The court found the writ petition maintainable under Article 226/227 of the Constitution of India, as the National Company Law Tribunal (NCLT) lacked jurisdiction over ownership disputes not recorded in a corporate debtor's balance sheet. The petitioner retained ownership of the sugar consignment due to unpaid status of the buyer. The NCLT and Resolution Professional's jurisdiction under the Insolvency and Bankruptcy Code, 2016 was limited to recorded assets, excluding the sugar consignment. The court directed officials to assess the petitioner's request for re-export within four weeks, emphasizing customs authorities' involvement. Case-Laws Customs Mon, 01 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415067