https://www.taxtmi.com/caselaws?id=758321 The NCLAT dismissed the appeal where the appellant sought treatment as a secured creditor under Section 30 of the Code. The appellant relied on Rainbow Papers SC judgment regarding Section 48 of GVAT Act, arguing their claim should be treated as secured debt rather than unsecured. The NCLAT distinguished Rainbow Papers, finding Section 37 of MVAT Act was not pari materia with Section 48 of GVAT Act. The tribunal referenced KTC Tyres SC case establishing priority of workmen dues and secured creditors over tax dues, and applied Zicom Saas precedent. The appeal lacked merit as the statutory provisions were not comparable to those in Rainbow Papers. en-us Mon, 09 Sep 2024 00:00:00 +0530 Wed, 11 Sep 2024 17:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758321 The NCLAT dismissed the appeal where the appellant sought treatment as a secured creditor under Section 30 of the Code. The appellant relied on Rainbow Papers SC judgment regarding Section 48 of GVAT Act, arguing their claim should be treated as secured debt rather than unsecured. The NCLAT distinguished Rainbow Papers, finding Section 37 of MVAT Act was not pari materia with Section 48 of GVAT Act. The tribunal referenced KTC Tyres SC case establishing priority of workmen dues and secured creditors over tax dues, and applied Zicom Saas precedent. The appeal lacked merit as the statutory provisions were not comparable to those in Rainbow Papers. Case-Laws IBC Mon, 09 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758321