2017 (4) TMI 1498

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....ation(s) for condonation of delay. The writ appeals are barred by 52 days. 2. These writ appeals have been filed by the appellants / State against the order dated 16.11.2016, passed in W.P.No.2151/2016 and W.P.No.2461/2016 (Annexure A/2), whereby the learned writ court after considering the amended provision of Section 31-B of Enforcement of Security Interest and Recovery of Debts Laws and Miscel....

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....antor, who is neither (dealer person) as defined under the provisions of M.P. Vanijya Kar, 1994. They have no right, legal authority or jurisdiction to restrain the bank from sell of the property belonging to the guarantor, which is not in coverage with the charge of the alleged dues of the commercial tax against the borrower firm. The learned writ court in view of the non-obstante Clause came to ....

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....16, the new amendment will not applicable in the present proceedings and this fact was not considered by the learned writ court while passing the impugned order. He also lastly submits that the amendment of Section 31B will apply prospectively and not retrospectively. To support the aforesaid, he has drawn our attention to the decisions of the Apex court in the case of Monnet Ispat & Energy Ltd. V....

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....rposes of this section, it is hereby clarified that on or after the commencement of the Insolvency and Bankruptcy Code, 2016, in cases where insolvency or bankruptcy proceedings are pending in respect of secured assets of the borrower, priority to secured creditors in payment of debt shall be subject to the provisions of that Code." 6. It was argued by the learned Government Advocate that the pro....