No Legal Proceedings could be Institute by CGST Dept on Property of Corporate Debtor Once Liquidated By NCLT: Himachal Pradesh HC [Read Order]

The High Court clarified that the red entry/charge created by the Revenue Department on the property of the petitioner-company during the currency of the moratorium imposed by the NCLT, would be void in law
By Yogitha S. Yogesh - On September 27, 2024 10:50 am - 2 mins read
Himachal Pradesh High Court - NCLT - National Company Law Tribunal - CGST Dept - Property of Corporate Debtor - taxscan

The Himachal High Court in a recent case held that no legal proceedings could be instituted by tax dept on property of corporate debtors once liquidated by the National Company Law Tribunal ( NCLT ) under section  33(5) of Insolvency & Bankruptcy Code ( IBC ). The High Court clarified that the red entry/charge created…

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