NDLI: State Tax Officer (1) Vs. Rainbow Papers Limited

Content Provider	Supreme Court of India
e-ISSN	30484839
Language	English
Access Restriction	NDLI
Subject Keyword	2016 Insolvency and Bankruptcy Code
Content Type	Text
Resource Type	Law Judgement
Jurisdiction	India
Case(s) Referred	Referred Case 0
Case Type	Appeal
Court	Supreme Court of India
Disposal Nature	Appeal Allowed
Headnote	Insolvency and Bankruptcy Code, 2016: ss. 9, 15, 30, 31&53 – Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 – rr. 4, 4A, 6 to 14 – Gujarat Value Added Tax, 2003 – s. 48 – s. 53 of the IBC, if overrides s. 48 of GVAT – Certain amount due from the respondent to the Sales Tax authorities towards CST and VAT – Recovery proceedings initiated and respondent’s property attached – Petition u/s. 9 for initiation of CIRP and Resolution professional-RP was appointed – Appellant then filed claim before the RP that certain amount was due under the GVAT Act and RP informed the appellant that its entire claim had been waived off – Challenge to, by the appellant –NCLT rejected the application as not maintainable and holding that the Government cannot claim first charge over the property of the Corporate Debtor, as s. 48 which provides for first charge on the property of a dealer in respect of any amount payable by the dealer on account of tax, interest, penalty etc. under the said Act, cannot prevail over s. 53 of the IBC – NCLAT dismissed the appeal as also held that the claim of the State is belated – On appeal, held: NCLAT erred in holding that s. 53 of the IBC overrides s. 48 of GVAT – s. 48 of the GVAT Act is not contrary to or inconsistent with Section 53 or any other provisions of the IBC – Under Section 53(1)(b)(ii), the debts owed to a secured creditor, which would include the State under the GVAT Act, are to rank equally with other specified debts including debts on account of workman’s dues for a period of 24 months preceding the liquidation commencement date – State is a secured creditor under the GVAT Act – s. 3(30) of the IBC defines secured creditor to mean a creditor in favour of whom security interest is credited – Such security interest could be created by operation of law - Definition of secured creditor in the IBC does not exclude any Government or Governmental Authority – Furthermore, delay in filing a claim cannot be the sole ground for rejecting the claim–Impugned orders set aside.
Judge	Hon'ble Ms. Justice Indira Banerjee
Neutral Citation	2022 INSC 927
Petitioner	State Tax Officer (1)
Respondent	Rainbow Papers Limited
SCR	[2022] 13 S.C.R. 808
Judgement Date	2022-09-06
Case Number	1661

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

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