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Corporate Debtor Faces Penalty for Violating IBC Moratorium by Filing Customs Duty and Estate Claims During CIRP.

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Full Text of the Document

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....Penalty proceedings against Corporate Debtor - contravention of the moratorium or not - submission of claim towards the Customs duty and Estate dues after initiation of CIRP - The message set out by this salutary provision is loud and clear that the provisions of the Code would come into operation notwithstanding anything inconsistent therewith contained in any other law and such law shall cease to have any effect till such time the provisions of the Code remains applicable. - Tri....

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