Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2020 (10) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (10) TMI 865 - Tri - Insolvency and BankruptcyApplication for condonation of delay in filing restoration application - issuance of appropriate directions to the Resolution Professional to ensure the payment of dues of Applicant as Secured Creditors as provided under the provisions of the Part II, Chapter II of the Insolvency & Bankruptcy Code 2016 - HELD THAT:- The dues of the Government, Central Government and/or State Government or any legal authority fall under the category of "Operational Debt". That apart, the applicant is claiming that in view of the provision of section 48 of Gujarat Value Added Tax, 2003, he may be treated as Secured Creditor. This contention of the Applicant is also not maintainable in view of section 238 of the IBC. Any dues and services of the Government Departments are considered as "Operational Creditor". Under such circumstances, even if, the Applications is/are restored by condoning the delay, the very purpose for which the IA has been filed is not going to succeed as they fall under the category of Operational Creditor as per the provisions of IBC. There are no merits in the application - application disposed off.
|