https://www.taxtmi.com/article/detailed?id=9582 Moratorium under the Insolvency and Bankruptcy Code bars proceedings against a corporate debtor's assets after initiation of insolvency resolution and, by virtue of section 238, overrides inconsistent laws; accordingly an interim resolution professional may take control and custody of imported goods owned by the corporate debtor even if those goods are in customs custody, and the customs authority cannot proceed with sale under section 48 once the moratorium is in place unless statutory relinquishment or disposal formalities have been completed. en-us Sat, 12 Dec 2020 07:14:08 +0530 Sat, 12 Dec 2020 07:14:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9582 Moratorium under the Insolvency and Bankruptcy Code bars proceedings against a corporate debtor's assets after initiation of insolvency resolution and, by virtue of section 238, overrides inconsistent laws; accordingly an interim resolution professional may take control and custody of imported goods owned by the corporate debtor even if those goods are in customs custody, and the customs authority cannot proceed with sale under section 48 once the moratorium is in place unless statutory relinquishment or disposal formalities have been completed. Articles Corporate Laws / IBC / SEBI Sat, 12 Dec 2020 07:14:08 +0530 https://www.taxtmi.com/article/detailed?id=9582