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2020 (3) TMI 665 - Tri - Insolvency and BankruptcyDetachment of the properties attached - section 9 of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- The Hon'ble Supreme Court in Pr. CIT v. Monnet Ispat and Energy Ltd. [2018 (8) TMI 1775 - SC ORDER] held that whenever there is any inconsistency between IB Code and any other law, the IB Code will prevail. Also, it is loud and clear that IB Code is not a debt recovery tool. This Adjudicating Authority is of the considered view, that provisions of section 238 of the IB Code override the Gujarat State GST Act 2017 and Central GST Act 2017. The Deputy Commissioner of State Tax, (Enforcement) Division-8, Surat is hereby directed to release the assets of M/s. Electra Accumulators Ltd., the Corporate Debtor, enabling the IRP of the Corporate Debtor to collate the claims from the creditors and complete the Insolvency Resolution Process of the Corporate Debtor in a time line prescribed by the Insolvency and Bankruptcy Board of India. Application allowed.
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