Provision of IBC prevails over Customs Act on Execution of Moratorium: Supreme Court [Read Order]

IBC - Customs Act - execution of Moratorium - SC - taxscan

The Three Judge Bench of the Supreme Court of India Held that On Execution of Moratorium, Insolvency and Bankruptcy Code (IBC) Prevails over Customs Act to the extent that once moratorium proceedings begin under the Code, the customs authority does not have the power to initiate any recovery actions for dues from the corporate debtor….

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