TMI Blog2023 (10) TMI 1385X X X X Extracts X X X X X X X X Extracts X X X X ..... s a secured creditor or not - HELD THAT:- The issues raised in the appeal are fully covered by the judgment of this Appellate Tribunal in DEPARTMENT OF STATE TAX, THROUGH THE DY. COMMISSIONER OF STATE TAX VERSUS ZICOM SAAS PVT. LTD. ANR. [ 2023 (2) TMI 1170 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI] where in the appeal filed by Department of State Tax similar issues were decided and it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te Tribunal dated 07.02.2023 in Company Appeal (AT) (Ins.) No. 246 of 2022, Department of State Tax, Through the Dy. Commissioner of State Tax vs. Zicom Saas Pvt. Ltd. Anr. where in the appeal filed by Department of State Tax similar issues were decided and it was held that Department of State Tax is not a secured creditor. Learned counsel for the Appellant does not dispute that the issues were an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... yable by a dealer or any other person on account of tax, interest or penalty for which he is liable to pay to the Government shall be a first charge on the property of such dealer, or as the case may be, such person 8. The Provision of Section 37 of Maharashtra Value Added Tax, 2002 is to the following effect: 37. Notwithstanding anything contained in any contract to the contrary, but subject to a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tral Act. The IBC Section 53 itself provides waterfall mechanism which may be treated to be law which has been contemplated under Section 37 of the MVAT Act, 2002. 10. We thus are of the view that the Judgement of the Hon ble Supreme Court in Rainbow Paper Limited relied by Learned Counsel for the Appellant is distinguishable. The Appellant having been treated as Operational Creditor allocation of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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