WebNov 18, 2024 · Rainbow Papers Ltd. 1 was whether Sales Tax Officer is a Secured Creditor due to Sec 48 of the GVAT Act and whether Sec 53 of the I & B Code, 2016 will override Sec 48 of the Act? Analysis: Proceedings cannot be continued against the Corporate Debtor, after the commencement of CIRP due to moratorium u/s.14 of the Code. WebMar 3, 2024 · Rainbow Papers Limited, Civil Appeal No. 1661 of 2024, the Supreme Court ruled on the status of statutory creditors (such as tax authorities) under the IBC. It was held that statutory creditors...
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WebOct 28, 2024 · Calyx Chemicals & Pharmaceuticals Ltd., 2024 SCC OnLine NCLT 3854; Tourism Finance Corpn. of India Ltd. v. Rainbow Papers Ltd., 2024 SCC OnLine NCLAT 910; Edelweiss Asset Reconstruction Co. Ltd. v. Euro Pallets (P) Ltd., 2024 SCC OnLine NCLT 18700. 30 JSW Steel Ltd. v. Mahender Kumar Khandelwal, 2024 SCC OnLine NCLAT 431; … WebWe have over 25 years of experience converting industrial waste paper into beautiful bags and sheeted paper. We are dedicated to saving our customers money, delivering a quality … broken shaker chicago burger
Rainbow Papers Judgement: The Supreme Court’s Controversial Ruling
WebKushal Limited Home WebFeb 27, 2024 · Hon’ble Supreme Court held that (1) the nature of proceedings which have to be kept in abeyance under Section 14 of the IBC do not include criminal proceedings, which is the nature of proceedings under Section 138 of the N.I. Act (2) Section 138 of the N.I. Act are not recovery proceedings. WebDec 5, 2024 · against Rainbow Papers by the NCLT on 12 September 2024. Prior to the CIRP order, the Sales Tax Officer had initiated recovery proceedings against Rainbow Papers and attached its property. After initiation of the CIRP, the IRP issued advertisements inviting the submission of claims by 5 October 2024 and the car dealership montgomery al