# In the matter of R. P. Basmati Pvt. Ltd. IA Nos. 157 & 592-2021 in CP (IB) No. 223-Chd-Hry-2018

> Read the full IBC case summary for In the matter of R. P. Basmati Pvt. Ltd. IA Nos. 157 & 592-2021 in CP (IB) No. 223-Chd-Hry-2018. NCLT judgment dated…

- **Court:** NCLT
- **Order date:** 22 Apr 2022
- **Citation:** TCN-2022-NCLT-04925
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/r-p-basmati-pvt-ltd-ia-nos-157-592-2021-in-cp-ib-no-223-chd-hry-2018-c95d0158

## Summary

### Background

The case involves two applications, IA No. 157/2021 and IA No. 592/2021, filed under Section 60(5) of the IBC, 2016. IA No. 157/2021 was filed by the Resolution Professional against the Income Tax Department to remove a lien on the corporate debtor's bank account. IA No. 592/2021 was filed by the Excise and Taxation Commissioner, Haryana, seeking acceptance of their claim for statutory dues, which had been rejected by the Resolution Professional.

## Facts

The Adjudicating Authority admitted a petition filed by an Operational Creditor on November 16, 2018, and subsequently imposed a moratorium on November 29, 2018. Mr. Harvinder Singh was appointed as the Interim Resolution Professional. Following these orders, the management and affairs of the Corporate Debtor were vested with the Interim Resolution Professional, as per clause (a) of sub-section (1) of Section 17 of the Insolvency and Bankruptcy Code, 2016.

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## Issues and analysis

### Issue 1: Whether the Income Tax Department's attachment of the corporate debtor's bank account under Section…

**Ratio:** The provisions of the IBC have an overriding effect over other laws, and once a…

**Reasoning:** The NCLT reasoned that the dues of the Income Tax Department constitute an operational…

**Interpretation:** The court interpreted **Section 238 of the IBC** to mean that its provisions…

**Application:** The court applied this interpretation to direct the Income Tax Department to…

## Parties

- **Judges:** Harnam Singh…; SUBRATA KUM…
- **Advocates:** Rakesh…; Rakshit…; +1 more

## Timeline

- **November 16, 2018 — Petition Ad…**: The Adjudicating Authority admitted the…
- **November 29, 2018 — Moratorium Imposed and…**: Moratorium was imposed, and Mr. Harvinder Singh was appointed as the Interim Resolution…

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