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Central excise package 2002 in j&k
31-Jul-2023 (In Customs & Central Excise Law)
Central government gave industrial package to j&k of 100 % excise exemption and other tax holidays for 10 fromvdate of production years. People started investing by taking bank loans and other sources. In 2008 central government I'm between withdrew the package and parties become bank defaulter and bank filed recovery suits as no of units were closed.what is legal opinion wjethy borrower only is sufferer or any legal remedy.
Though, in court for the same a review petition can be filed in favor of defaulters ( if many or prominent no. of defaulters together file for same cause) it can be proved that the central government change in policy/ rule was responsible and a justified solution or relief can be prayed for the defaulters in such a case from the court.
Make a committee of the defaulters and file a petition on high court.
30+
Adv. Shalini Kapila
Dubai | 25+ Answers
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