This case involves an appeal filed by the Resolution Professional (RP) of Cengres Tiles Limited, the Corporate Debtor, against an order dated 07.02.2023 passed by the National Company Law Tribunal (NCLT), Ahmedabad. The NCLT had rejected IA/765(AHM)2022 filed by the RP, which sought a direction to the Assistant Commissioner of CGST & Central Excise to release the attachment of tiles belonging to the Corporate Debtor. The attachment was made by the Respondent to recover central excise dues. The RP argued that after the commencement of the Corporate Insolvency Resolution Process (CIRP), no action to recover dues against the Corporate Debtor could be undertaken, citing Section 14 of the Insolvency and Bankruptcy Code (IBC).
M/s Cengres Tiles Limited, the Corporate Debtor, was engaged in manufacturing non-metallic mineral products, including tiles. On 02.02.2018, the Assistant Commissioner of CGST & Central Excise attached 81,620 boxes of vitrified tiles to recover central excise dues amounting to Rs.5,10,12,500/-. A 'Panchnama' was drawn on the same date, placing the goods under 'supurdagi'. Axis Bank Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code (IBC), leading to the initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor on 04.03.2021. The Appellant was appointed as the RP on 23.05.2022. The Respondent submitted a claim to the Interim Resolution Professional (IRP) for Rs.39,62,94,872/-. The RP requested the
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This case involves an appeal filed by the Resolution Professional (RP) of Cengres Tiles Limited, the Corporate Debtor, against an order dated 07.02.2023 passed by the National Company Law Tribunal (NCLT), Ahmedabad. The NCLT had rejected IA/765(AHM)2022 filed by the RP, which sought a direction to the Assistant Commissioner of CGST & Central Excise to release the attachment of tiles belonging to the Corporate Debtor. The attachment was made by the Respondent to recover central excise dues. The RP argued that after the commencement of the Corporate Insolvency Resolution Process (CIRP), no action to recover dues against the Corporate Debtor could be undertaken, citing Section 14 of the Insolvency and Bankruptcy Code (IBC).
M/s Cengres Tiles Limited, the Corporate Debtor, was engaged in manufacturing non-metallic mineral products, including tiles. On 02.02.2018, the Assistant Commissioner of CGST & Central Excise attached 81,620 boxes of vitrified tiles to recover central excise dues amounting to Rs.5,10,12,500/-. A 'Panchnama' was drawn on the same date, placing the goods under 'supurdagi'. Axis Bank Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code (IBC), leading to the initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor on 04.03.2021. The Appellant was appointed as the RP on 23.05.2022. The Respondent submitted a claim to the Interim Resolution Professional (IRP) for Rs.39,62,94,872/-. The RP requested the
…The Assistant Commissioner of CGST & Central…
Corporate Insolvency Resolution Process…