9911796707
TMI Blog2017 (9) TMI 1907X X X X Extracts X X X X X X X X Extracts X X X X ..... proceedings - HELD THAT:- The provisions of the Insolvency and Bankruptcy Code, 2016 ( Code ) and in particular, s. 14 thereof have been perused. It appears to the Court that s. 238 of the Code is categorical that the Code will apply, notwithstanding anything inconsistent therewith contained in any other law for the time being in force. Sec. 14(1)(a) of the Code states, inter alia, that on the in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ohibited, inter alia, the institution of suits or continuation of pending suits or proceedings against the respondent. This would include the present appeal by the IT Department ( Department ) against the order of the Income-tax Appellate Tribunal in respect of the tax liability of the respondent-assessee. The appeals are disposed of with liberty to the appellant-Department to revive them subject ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proceedings against the corporate debtor including execution of any judgment, decree or order in any Court of law, Tribunal, arbitration panel or other authority". That the Code will prevail over all other statutes inconsistent therewith has been explained in the recent decision dt. 31st Aug., 2017 of the Supreme Court in Civil Appeal Nos. 8337-& 8338 of 2017 (Innoventive Industries Ltd. vs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rom the NCLT for continuation of the pending proceedings against the respondent in other fora. In the order dt. 18th July, 2017 it is clear that the moratorium continues "till the completion of the corporate insolvency resolution process or until this Bench approves the resolution plan under sub-s. (1) of s. 31 or passes an order for liquidation of corporate debtor under s. 33, as the case ma ..... X X X X Extracts X X X X X X X X Extracts X X X X
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