https://www.taxtmi.com/caselaws?id=439883 The Tribunal held that the Adjudicating Authority has jurisdiction to direct the release of goods attached before the initiation of Corporate Insolvency Resolution Process (CIRP). It ruled in favor of the Resolution Professional (RP) seeking release of attached goods, stating they should be included in the Corporate Debtor's assets for creditor payment. Government dues like excise duty are to be treated as operational debts under the Insolvency and Bankruptcy Code, to be resolved as per the approved resolution plan. The Tribunal allowed the appeal, ordering the release of attached goods for the benefit of creditors and upholding the Adjudicating Authority's jurisdiction. en-us Tue, 04 Jul 2023 00:00:00 +0530 Tue, 04 Jul 2023 21:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439883 The Tribunal held that the Adjudicating Authority has jurisdiction to direct the release of goods attached before the initiation of Corporate Insolvency Resolution Process (CIRP). It ruled in favor of the Resolution Professional (RP) seeking release of attached goods, stating they should be included in the Corporate Debtor's assets for creditor payment. Government dues like excise duty are to be treated as operational debts under the Insolvency and Bankruptcy Code, to be resolved as per the approved resolution plan. The Tribunal allowed the appeal, ordering the release of attached goods for the benefit of creditors and upholding the Adjudicating Authority's jurisdiction. Case-Laws Insolvency and Bankruptcy Tue, 04 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439883