Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Advance-ruling mechanism governs pending GST classification, exemption and taxability disputes, limiting writ review once the specialised forum functi...
Insolvency law's overriding effect and the clean slate doctrine require that municipal dues be treated as operational debts and be presented to the liquidator for participation in the liquidation waterfall; purchasers at liquidation sales or successful resolution applicants are not liable for pre sale statutory liabilities unless the authority lodged a claim and the debt qualified as a secured interest. Contractual clauses like "as is where is" cannot preserve a municipal charge extinguished or subordinated under the Code. Retrospective revaluation or assessment against post sale purchasers who did not know of or claim the dues is not enforceable, and the impugned assessment notices were set aside with the writ allowed.
Insolvency law's overriding effect and the clean slate doctrine require that municipal dues be treated as operational debts and be presented to the liquidator for participation in the liquidation waterfall; purchasers at liquidation sales or successful resolution applicants are not liable for pre sale statutory liabilities unless the authority lodged a claim and the debt qualified as a secured interest. Contractual clauses like "as is where is" cannot preserve a municipal charge extinguished or subordinated under the Code. Retrospective revaluation or assessment against post sale purchasers who did not know of or claim the dues is not enforceable, and the impugned assessment notices were set aside with the writ allowed.
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