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2018 (9) TMI 1828 - NATIONAL COMPANY LAW TRIBUNAL, CHENNAIRevision of Resolution Plan - requirement of production of various documents - RP has submitted in present application that the interest of Operational Creditor can be protected by way of Bank Guarantee from the financial creditor - HELD THAT:- The right/title over the goods under question as appearing on bill of lading/other import documents were transferred in favor of buyer in pursuance to High Seas sale agreements and as per the agreements, the buyer is under obligation to meet custom obligations whatsoever arises in the matter, no recourses/claim in this connection can be raised against the seller at all. Even otherwise the alleged custom duty liability as imposed by the custom authorities vide order, got cancelled in pursuance to order dated 08.11.2017 passed by Hon'ble CESTAT. Tribunal is of the opinion that the resolution professional "shall" undertake the following actions, which makes it clear that the provision is a mandatory provision thus the prayer by the RP to dispense the public notice is not tenable. Application disposed off.
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