A Punjab and Haryana High Court ruling mandates a customs duty refund and ₹50 lakhs compensation for perishable goods that were obstructed and ruined.
IRDAI has issued a warning to Acko General Insurance for violating premium collection rules. The insurer failed to strictly comply with Section 64VB(1) of the Insurance Act, 1938.
CBIC issues new guidelines for exporting SCOMET items, outlining a process for classification, clarifying the role of DGFT, and introducing an AEO status for dual-use goods.
Himachal Pradesh High Court held that extinguishment of debt under Insolvency and Bankruptcy Code [IBC] wouldn’t ipso facto apply to extinguishment of criminal proceedings under section 138 of the Negotiable Instruments Act [NI Act]. Accordingly, present petition fails.
Jharkhand High Court held that order passed u/s. 74 of the Jharkhand Goods and Services Tax Act no reasons whatsoever have been assigned for agreeing with the order passed by the Assessing Authority. Thus, absence of reasons is clearly suggestive of the order being arbitrary hence legally unsustainable.
There exists a reasonable belief, duly recorded and supported by material evidence, that the attached properties are involved in money laundering and further, the appellants have failed to rebut the statutory presumption under Section 24 of the PMLA.
Madras High Court held that recovery of availed duty drawback beyond period of three years from the date of respective shipment is barred by limitation. Accordingly, it is directed to reconsider the matter after affording personal hearing as order was passed in violation of natural justice.
The Chairman Emeritus role is unregulated under the Companies Act, 2013. Learn about the legal vacuum, governance implications, and the need for reform.
Supreme Court held that the commercial wisdom of the CoC must, accordingly, be given primacy during the CIRP. Once CoC decides that retention of the possession of the subject property was not in the interest of the CIRP, that decision must be given the respect that is lawfully due to it.
This analysis compares AS 24 and Ind AS 105 for discontinuing operations, examining their role in financial reporting, the going concern concept, and COVID-19’s impact.
