2018 (12) TMI 1674

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.... (J) Shri V. Nallasenapathy, Member (T) ORDER MA 1023/2018 Heard the Counsel representing the Resolution Professional and the counsel representing the Income Tax Department. The application has been filed by the Resolution Professional with a prayer to direct the respondent i.e. Income Tax Department to lift the attachment of Bank accounts which were attached prior to the Insolvency and B....

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....nting the Income Tax Department and taking into consideration the priority of the Income Tax Department for claiming their dues in the event the company is liquidated, this bench takes a conscious decision under the powers granted to this Tribunal u/s 238 of the code that the Orders passed under Section 226 (3) of the Income Tax Act dated 16.11.2017 and 17.11.2017 by Income Tax Recovery Officer-4,....

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....o a resolution plan due to so many reasons. However, this employees association submits that their investor is interested in submitting a resolution plan and the Resolution Professional may be directed to give financial details and other data of the Company then they will be in a position to proceed further for submitting a resolution plan. However, this bench noticed that this association is unre....