https://www.taxtmi.com/caselaws?id=295982 The Adjudicating Authority directed the Union of India Ministry of Petroleum & Natural Gas not to press or implement the Demand Notice against Videocon Industries Limited during the Corporate Insolvency Resolution Process and Moratorium period. The Tribunal found that profit petroleum ownership did not automatically fall under the Union of India's share as claimed, emphasizing that the Demand Notice did not pertain to recovery from the Corporate Debtor. The Authority's decision to stay the Demand Notice and restrain remittance of sale proceeds upheld, ensuring the Corporate Debtor's rights and maintaining the Moratorium's prohibition on recovery. en-us Fri, 30 Aug 2019 00:00:00 +0530 Tue, 29 Jun 2021 09:39:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295982 The Adjudicating Authority directed the Union of India Ministry of Petroleum & Natural Gas not to press or implement the Demand Notice against Videocon Industries Limited during the Corporate Insolvency Resolution Process and Moratorium period. The Tribunal found that profit petroleum ownership did not automatically fall under the Union of India's share as claimed, emphasizing that the Demand Notice did not pertain to recovery from the Corporate Debtor. The Authority's decision to stay the Demand Notice and restrain remittance of sale proceeds upheld, ensuring the Corporate Debtor's rights and maintaining the Moratorium's prohibition on recovery. Case-Laws Insolvency and Bankruptcy Fri, 30 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295982