CBIC Notifies Simplification Of Procedure For Compounding Offences Under Customs Act

The Central Board of Indirect Taxes and Customs (CBIC) has notified the simplification of the procedure for compounding offences under the Customs Act.The Central Government has made changes to the Customs (Compounding of Offences) Rules, 2005. As per the amendment, the satisfaction of compounding authorities has been limited only to verifying and being satisfied that the full and...

Once Bidder Accepts Corporate Debtor In Slump Sale, Can't Request For Conversion Of Sale Into Sale As A Going Concern: NCLT Ahmedabad

The National Company Law Tribunal ("NCLT"), Ahmedabad Bench, comprising of Shri Madan B Gosavi (Judicial Member) and Shri Kaushalendra Kumar Singh (Technical Member), while adjudicating a petition filed in State Bank of India & Anr. v Shirpur Power Pvt. Ltd., has held that once a successful bidder has accepted and purchased the Corporate Debtor in slump sale under IBC,...

Exporter Can't Be Deprived Of MEIS Benefits Due To Technical Error In Electronic System: Madras High Court

The Madras High Court has held that due to technical error or lacunae in the electronic system, the petitioner/exporter cannot be deprived of its benefit/incentive under the Merchandise Export from India Scheme (MEIS).The single bench of Justice Abdul Quddhose has directed the department to consider the petitioner's representation seeking to get the benefit under the MEIS for the...

Kerala High Court Questions Actor Mohanlal's Locus Standi To Challenge Magistrate's Refusal To Allow Withdrawal Of Ivory Case

The Kerala High Court on Monday, before posting the case for hearing again after the Court vacation, observed that the petitioner in this case, actor Mohanlal, had no locus standi before the Court. Justice Mary Joseph, observed that under under the CrPC, no such power for withdrawal of proceedings had been granted to the accused. "If the State appears, and had filed the application, the...

Entity Issuing A 'Letter Of Comfort' Is Not A Corporate Debtor Or Guarantor Within Framework Of Law: NCLT Delhi

The National Company Law Tribunal ("NCLT"), New Delhi Bench, comprising of Shri P.S.N. Prasad (Judicial Member) and Shri Rahul Bhatnagar (Technical Member), while adjudicating a petition filed in M/s. Shapoorji Pallonji and Company Pvt. Ltd. v M/s. ASF Insignia SEZ Pvt. Ltd., has held that an entity that issues a 'Letter of Comfort' to a party, cannot be treated as Corporate Debtor...

Transfer Orders Cannot Be Passed In Absence Of Vacancy, Must Show Place Of New Posting: Karnataka High Court

The Karnataka High Court has directed the State government to ensure that if transfers are made after the period of general transfers, no request for transfers should be entertained or orders made unless there is a vacant place. A single judge bench of Justice S Sunil Dutt Yadav allowed a petition filed by one Murthy and set aside the order of transfer dated 23.12.2021 issued to him....

Loan Converted Into Equity - NCLT Procedure Being In Summery In Nature, Can't Initiate CIRP; NCLT Kolkata

The National Company Law Tribunal ("NCLT"), Kolkata Bench, comprising of Shri Rohit Kapoor (Judicial Member) and Shri Balraj Joshi (Technical Member), while adjudicating a petition filed in Anup Jhunjhunwala v ADEA Powerquips Private Limited, has declined to initiate insolvency proceedings with respect to a debt disbursed by Director of the Corporate Debtor, as the loan was...

Shareholders Cannot Be Impleaded As Party In Adjudication Of Disputes Between Employers & Workmen: Kerala High Court

The Kerala High Court has made it clear that the shareholder of a company cannot be made an independent party in a dispute between the company and its workmen.The observation was made in connection with a dispute between Rubber Wood India Pvt Ltd and its workmen, whereby the Rubber Board, being a shareholder of the company, was arrayed as a party Respondent by the workmen.The Court held that...

Vizhinjam Port: Kerala High Court Asks Whether Protesting Fishermen Can Halt Construction Work

The Kerala High Court on Monday questioned if the fishermen, protesting against construction of Vizhinjam International Seaport by the Adani group, can halt a Project which had all the requisite permissions.While considering the petitions filed by M/S Adani Vizhinjam Port Pvt Ltd and its contracting company Howe Engineering Projects, seeking protection for their employees and property,...

Right To Appeal Accrues On Date Of Institution Of Suit: Madras HC Entertains Appeal Arising Out Of Claim Filed Prior To Motor Vehicle Amendment Act

When the Madras High Court registry put forward a query as to whether appeals whose value was less than one lakh rupees could be entertained in view of the amendment brought in by the Motor Vehicles Amendment Act 2019, Justice PT Asha observed that the right to appeal accrued on the date of filing the claim petitions and therefore the amendment was not applicable to claims filed prior to...

Tax Cases Weekly Round-Up: 21 August To 27 August, 2022

Delhi High Court Application Under Companies Act Against Order Rejecting Waiver Of Interest; Dispute Falls Within Scope Of VSV Act: Delhi High Court Case Title: Kapri International Pvt. Ltd. versus Commissioner of Income Tax Citation: 2022 LiveLaw (Del) 796 The Delhi High Court has ruled that where an application under the Companies Act has been filed by a company in...

Arbitration Cases Weekly Round-Up: 21 August To 27 August, 2022

Bombay High Court: Interim Relief Under Section 9 Of A&C Act - Incidental To Recovery Of Possession OfProperty; Small Causes Court Alone Would Have Jurisdiction: Bombay High Court Case Title: BXIN Office Parks India Pvt. Ltd. versus Kailasa Urja Pvt. Ltd. The Bombay High Court has ruled that reliefs which are incidental to the possession of the licensed premises cannot be...