https://www.taxtmi.com/caselaws?id=309105 The Tribunal affirmed that the Insolvency and Bankruptcy Code (IBC) prevails over the Customs Act, limiting customs authorities' jurisdiction during the insolvency process. The Tribunal held that customs authorities cannot claim title over goods or initiate recovery once liquidation commences. Additionally, the Tribunal ruled that an Intervenor cannot introduce new issues but can only support existing arguments. The appeal was dismissed, the stay was vacated, and time spent in litigation was excluded from the Liquidator's available period. The application for condonation of delay was rejected due to excessive delay. en-us Mon, 17 Oct 2022 00:00:00 +0530 Thu, 10 Aug 2023 21:25:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309105 The Tribunal affirmed that the Insolvency and Bankruptcy Code (IBC) prevails over the Customs Act, limiting customs authorities' jurisdiction during the insolvency process. The Tribunal held that customs authorities cannot claim title over goods or initiate recovery once liquidation commences. Additionally, the Tribunal ruled that an Intervenor cannot introduce new issues but can only support existing arguments. The appeal was dismissed, the stay was vacated, and time spent in litigation was excluded from the Liquidator's available period. The application for condonation of delay was rejected due to excessive delay. Case-Laws Insolvency and Bankruptcy Mon, 17 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309105