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 argued that the liquidator had failed to treat their claim as a secured creditor, especially after the Supreme Court's judgment in Rainbow Paper Limited case, which classified state tax dues as secured creditor under the GVAT Act. The respondent, Bhupendrasingh Rajput, Liquidator of Anil Technoplus Limited, contended that the applicant's earlier
…The Commissioner of State Tax Department filed an application seeking to be treated as a secured creditor in the corporate insolvency resolution process of Anil Technoplus Limited. The applicant based their claim on 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. An earlier application (IA No. 172 of 2021) by the applicant seeking similar relief was dismissed by the NCLT. The applicant appealed to the NCLAT, but the appeal was also dismissed. The applicant did not appeal the NCLAT's decision to a higher court. The Supreme Court in Rainbow Paper Limited case classified state tax dues as secured creditor under the GVAT Act. The liquidator argued that the
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The main Company Petition being CP (IB) No.…
The applicant preferred one application being…
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 argued that the liquidator had failed to treat their claim as a secured creditor, especially after the Supreme Court's judgment in Rainbow Paper Limited case, which classified state tax dues as secured creditor under the GVAT Act. The respondent, Bhupendrasingh Rajput, Liquidator of Anil Technoplus Limited, contended that the applicant's earlier
…The Commissioner of State Tax Department filed an application seeking to be treated as a secured creditor in the corporate insolvency resolution process of Anil Technoplus Limited. The applicant based their claim on 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. An earlier application (IA No. 172 of 2021) by the applicant seeking similar relief was dismissed by the NCLT. The applicant appealed to the NCLAT, but the appeal was also dismissed. The applicant did not appeal the NCLAT's decision to a higher court. The Supreme Court in Rainbow Paper Limited case classified state tax dues as secured creditor under the GVAT Act. The liquidator argued that the
…The main Company Petition being CP (IB) No.…
The applicant preferred one application being…