2025 (7) TMI 1860

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....venue, to substantial questions of law as more particularly set out in each of the Appeals. 2. The learned counsel appearing on behalf of the Resolution Professional of the Respondent (Shirpur Gold Refinery Ltd) submitted that the Respondent is undergoing a Corporate Insolvency Resolution Process ("CIRP") under the provisions of the Insolvency and Bankruptcy Code, 2016 (for short "IBC, 2016"). He submitted that since the company is undergoing a CIRP, and there is a moratorium in effect/in force under Section 14 of the IBC, 2016, the above Appeals cannot proceed. In this regard, he relied upon a decision of the Hon'ble Delhi High Court in the case of Principal Commissioner of Income Tax-6, New Delhi v/s Monnet Ispat and Energy Ltd [(2017)....

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....urt in Monnet Ispat and Energy Limited (supra). Since the order of the Delhi High Court is a short order, the same is reproduced as under:- "1. The Court has heard the learned counsel for both parties. The provisions of the Insolvency and Bankruptcy Code, 2016 ('Code') and, in particular, Section 14 thereof has been perused. 2. It appears to the Court that Section 238 of the Code is categorical that the Code will apply, notwithstanding anything inconsistent therewith contained in any other law for the time being in force. Section 14 (1) (a) of the Code states, inter alia, that on the 'insolvency commencement date' the Adjudicating Authority (AA) shall by order declare moratorium for prohibiting "the institution of suits or....

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.... or until this Bench approves the resolution plan under sub-Section (1) of Section 31 or passes an order for liquidation of corporate debtor under Section 33, as the case may be." 5. Consequently, these appeals are disposed of with liberty to the Appellant-Department to revive them subject to the further orders of the NCLT. 6. Copy of the order be given dasti under the signature of the Court Master." (emphasis supplied) 5. This decision of the Delhi High Court was subjected to challenge by the Revenue before the Hon'ble Supreme Court. The Hon'ble Supreme Court proceeded to dismiss the SLP by making the following observations:- "1. Heard. Delay, if any, is condoned. 2. Given Section 238 of the ....