https://www.taxtmi.com/caselaws?id=293825 An application to defreeze the corporate debtor's bank account, attached by the State tax authority, was found not maintainable before the NCLT. The request was based on the need to operate the sole bank account for liquidation expenses, but the record showed that notice had already been issued under the Gujarat Value Added Tax Act and not met within time. The proper course was to place the corporate debtor's status before the competent tax authority and seek relief through the statutory tax mechanism, rather than ask the Adjudicating Authority to intrude into that jurisdiction. The application was dismissed. en-us Fri, 04 Dec 2020 00:00:00 +0530 Thu, 04 Mar 2021 08:23:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293825 An application to defreeze the corporate debtor's bank account, attached by the State tax authority, was found not maintainable before the NCLT. The request was based on the need to operate the sole bank account for liquidation expenses, but the record showed that notice had already been issued under the Gujarat Value Added Tax Act and not met within time. The proper course was to place the corporate debtor's status before the competent tax authority and seek relief through the statutory tax mechanism, rather than ask the Adjudicating Authority to intrude into that jurisdiction. The application was dismissed. Case-Laws Insolvency and Bankruptcy Fri, 04 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293825