The NCLAT held that after initiation of moratorium u/s 14(1) of ...

NCLAT Rules EPFO Assessments Can't Proceed During Moratorium; Liquidation Changes Status Under IBC Sections 14 & 33.

January 8, 2025

Case Laws IBC AT

The NCLAT held that after initiation of moratorium u/s 14(1) of the IBC, no assessment proceedings can be continued by the EPFO. However, after an order of liquidation is passed, Section 33(5) does not prohibit initiation or continuation of assessment proceedings. No claim based on assessment carried out during the moratorium period, prohibited u/s 14(1), can be admitted in CIRP. Claims filed by the appellants subsequent to approval of the Resolution Plan by the CoC could not have been admitted in CIRP as they were hit by Section 14(1). The appeals were dismissed as no error was found in the impugned orders of the Adjudicating Authority.

View Source

← Previous Next →

The NCLAT held that after initiation of moratorium u/s 14(1) of ...

NCLAT Rules EPFO Assessments Can't Proceed During Moratorium; Liquidation Changes Status Under IBC Sections 14 & 33.

January 8, 2025

Case Laws IBC AT

You may also like:

From perusal of Section 96(1)(b) of IBC, 2016, interim moratorium restrains ongoing or fresh legal action or proceeding regarding debt pertaining to personal guarantor,...

Recovery of Service Tax dues, of a Company which is under liquidation applying IBC, 2016 - It is thus beyond the two years preceding the commencement of liquidation date...

CIRP in progress - moratorium in effect - recovery of dues from NPA - It is claimed that since the moratorium under Section 14 of the IBC has ceased to subsist after the...

Eligibility of ex-promoter/Corporate Debtor u/s 29A read with Section 240A of the IBC to submit a resolution plan claiming the benefits of MSME - rejection of Resolution...

The NCLAT dismissed the appeal and upheld the NCLT order, ruling that u/s 14 of the IBC, 2016, a security deposit lying with a third party cannot be adjusted against...

Liquidation of the Corporate Debtor under Section 33 of the IBC - The appellant contended that the RP misled the CoC regarding the possession and valuation of assets,...

Liquidation of Corporate Debtor - timeline prescribed in the liquidation proceedings or not - Since the objective of the IBC is to prefer resolution over liquidation and...

Rule 48 of the NCLAT Rules clearly stipulates service of notice on the other side, pursuant to issuance of notice by the NCLAT in the appeal, regardless of supply of...

The High Court ruled that security interests over assets of a corporate debtor to secure amounts due under a judgment or decree must give way to the provisions of the...

Intimation u/s 143(1) - change of status of the Assessee without intimation - charging higher rate of income tax - assessee is trust - assesse furnished return of income...

The NCLAT erred in invoking its inherent powers u/r 11 of the NCLAT Rules 2016 to approve a settlement between the second respondent and the Corporate Debtor,...

NCLAT upheld the sale of Corporate Debtor (CD) as a going concern in liquidation proceedings. The sale, conducted on 28.08.2023, complied with amended Regulation 32A(4)...

Once symbolic possession of the property is taken over by the appellant under the SARFAESI Act, 2002, the moratorium u/s 96 of the Insolvency and Bankruptcy Code...

CIRP - Home Buyers - Moratorium against the company has been ordered - The Supreme Court's decision in this case clarifies that the moratorium u/s 14 of IBC does not...

Impact of Section 60(6) of the IBC - Exclusion of moratorium period for initiation of proceedings of suit - Interpreting the statute in the manner which the appellant...

Quick Updates: