https://www.taxtmi.com/caselaws?id=442517 A pre-liquidation sales tax attachment, even if final under the taxing statute and left unchallenged, did not prevent the corporate debtor's assets from entering the liquidation estate. The Department was not recognised as a secured creditor outside the insolvency framework, and the treatment of any secured interest had to follow Section 52 of the Insolvency and Bankruptcy Code, 2016 and Regulation 21A of the Liquidation Process Regulations, 2016. The attachment could not override the insolvency distribution scheme, so the liquidation process was allowed to proceed with the assets included in the estate and the attachment released. en-us Tue, 22 Aug 2023 00:00:00 +0530 Sun, 03 Sep 2023 19:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442517 A pre-liquidation sales tax attachment, even if final under the taxing statute and left unchallenged, did not prevent the corporate debtor's assets from entering the liquidation estate. The Department was not recognised as a secured creditor outside the insolvency framework, and the treatment of any secured interest had to follow Section 52 of the Insolvency and Bankruptcy Code, 2016 and Regulation 21A of the Liquidation Process Regulations, 2016. The attachment could not override the insolvency distribution scheme, so the liquidation process was allowed to proceed with the assets included in the estate and the attachment released. Case-Laws Insolvency and Bankruptcy Tue, 22 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442517