The Commissioner of State Tax Department filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules, 2016, seeking directions from the NCLT to treat the applicant as a 'Secured Creditor' for assessment orders under the Gujarat Value Added Tax Act, 2003, and the Central Sales Tax Act, 1956, for the assessment years 2006-2007 and 2013-2014 to 2016-2017. The applicant had previously filed IA No. 172/2021 seeking consideration of its claims as a secured creditor, which was rejected by the Tribunal on 06.09.2021, citing Section 238 of the Code. The applicant argues that a subsequent Supreme Court judgment in Rainbow Paper Limited case classified state tax dues as secured creditor under the GVAT Act. The
…The Commissioner of State Tax Department filed an application (IA No. 1028 of 2023) seeking to be treated as a secured creditor in the Corporate Insolvency Resolution Process (CIRP) of Anil Technoplus Limited. The application was filed under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), read with Rule 11 of the NCLT Rules, 2016. The applicant sought directions from the NCLT to treat them as a 'Secured Creditor' for assessment orders under the Gujarat Value Added Tax Act, 2003, and the Central Sales Tax Act, 1956, for the assessment years 2006-2007 and 2013-2014 to 2016-2017. Previously, the applicant had filed IA No. 172/2021 seeking the same relief, which was rejected by the NCLT on 06.09.2021, citing Section 238 of the IBC, which gives the IBC precedence
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The NCLT rejected IA No. 172/2021 filed by the…
The Supreme Court of India issued its…
The Commissioner of State Tax Department filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules, 2016, seeking directions from the NCLT to treat the applicant as a 'Secured Creditor' for assessment orders under the Gujarat Value Added Tax Act, 2003, and the Central Sales Tax Act, 1956, for the assessment years 2006-2007 and 2013-2014 to 2016-2017. The applicant had previously filed IA No. 172/2021 seeking consideration of its claims as a secured creditor, which was rejected by the Tribunal on 06.09.2021, citing Section 238 of the Code. The applicant argues that a subsequent Supreme Court judgment in Rainbow Paper Limited case classified state tax dues as secured creditor under the GVAT Act. The
…The Commissioner of State Tax Department filed an application (IA No. 1028 of 2023) seeking to be treated as a secured creditor in the Corporate Insolvency Resolution Process (CIRP) of Anil Technoplus Limited. The application was filed under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), read with Rule 11 of the NCLT Rules, 2016. The applicant sought directions from the NCLT to treat them as a 'Secured Creditor' for assessment orders under the Gujarat Value Added Tax Act, 2003, and the Central Sales Tax Act, 1956, for the assessment years 2006-2007 and 2013-2014 to 2016-2017. Previously, the applicant had filed IA No. 172/2021 seeking the same relief, which was rejected by the NCLT on 06.09.2021, citing Section 238 of the IBC, which gives the IBC precedence
…The NCLT rejected IA No. 172/2021 filed by the…
The Supreme Court of India issued its…