# In the matter of Singhal Strips Limited

> NCLT judgment dated 2025-04-30. Citation: TCN-2025-NCLT-00147. The application I.A./3238/2024 was filed under Section 18(f) of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 30 Apr 2025
- **Citation:** TCN-2025-NCLT-00147
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/singhal-strips-limited-02c083d1

## Summary

### Background

The application I.A./3238/2024 was filed under Section 18(f) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the National Company Law Tribunal Rules, 2016, by the Resolution Professional of Singhal Strips Limited, seeking directions against the Excise and Taxation Department for the removal of a lien/attachment on the Corporate Debtor's asset. An application was filed by the Operational Creditor under Section 9 of the Code against the Corporate Debtor, bearing C.P.(IB) No.: 3131/2019, which was admitted vide Order dated 30.10.2023. Moratorium was declared vide order dated 30.10.2023. The Committee of Creditors was held on 11.12.2023, during which the Applicant was appointed as Resolution Professional, approved on 11.03.2024. The Applicant sent a

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## Facts

An application was filed by the Operational Creditor under Section 9 of the Code against Singhal Strips Limited, the Corporate Debtor, which was admitted on 30.10.2023, initiating a moratorium. Anil Kohli was appointed as the Resolution Professional (RP) on 11.12.2023, and his appointment was approved on 11.03.2024. The RP informed the Excise and Taxation Department, the Respondent, about the CIRP and requested the removal of a lien/attachment on the Corporate Debtor's property located at 58 K.M. Stone, Delhi Rohtak Road, Village Ismaila, Rohtak, Haryana-124501. The Respondent had placed the lien/attachment due to unpaid dues of Rs. 1,91,85,399/- under the Haryana General Sales Tax Act, 1973, Haryana Value Added Tax Act, 2003, and Central Sales Tax Act. The Respondent

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## Issues and analysis

### Issue 1: Whether the lien/attachment placed by the Excise and Taxation Department on the Corporate Debtor's …

**Ratio:** The initiation of CIRP and the imposition of a moratorium under Section 14 of the

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**Reasoning:** The Adjudicating Authority reasoned that allowing the lien/attachment to continue would

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**Interpretation:** Section 14 of the IBC imposes a moratorium that prohibits the initiation or

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**Application:** In this case, the lien/attachment was placed by the Excise and Taxation

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## Parties

- **Judges:** MAHENDRA KHANDELWA…; Anu Jagmoha…
- **Appellants:** JINDAL STAINLESS…
- **Respondents:** SINGHAL STRIPS…; EXCISE AND…
- **Advocates:** Abhishek…; Karan K…; +1 more

## Timeline

- **2019-01-01 — Application…**: An Application was filed by the Operational Creditor under Section 9 of the Code against…
- **2023-10-30 — Admission of Application…**: The application was admitted vide Order dated…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 18(f) — Duties of interim resolution professional](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-18)

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