State Bank of India v. Principal Commissioner of Income-tax and ors
[Citation -2019-LL-0225-41]

Citation 2019-LL-0225-41
Appellant Name State Bank of India
Respondent Name Principal Commissioner of Income-tax and ors.
Court HIGH COURT OF PUNJAB & HARYANA
Relevant Act Income-tax
Date of Order 25/02/2019
Judgment View Judgment
Keyword Tags insolvency and bankruptcy code • outstanding liabilities
Bot Summary: Ajay Kumar Mittal, J. The instant writ petition has been filed under Articles 226/227 of the Constitution of India for issuance of writ in the nature of Certiorari/ Mandamus for quashing the notice dated 16.02.2017 issued under Section 226(3) of the Income Tax Act, 1961 by respondent No.2. The primary dispute in the writ petition was regarding whether the petitioner or the respondent-bank/department would have precedence to recover the outstanding liabilities from M/s R.P.Basmati Rice Ltd. 3. It was stated by learned counsel for the parties that an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 filed by the respondents has been admitted by the National Company Law Tribunal, Chandigarh Bench, Chandigarh and Moratorium under Section 14(1) of the Code has been declared. Learned counsel for the parties are ad idem that in view of the Moratorium issued by NCLT, the present petition has become infructuous and may be disposed of as such.


225 IN HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH CWP No.4170 of 2018 Decided on : 25.02.2019 State Bank of India ...... Petitioner Versus Principal Commissioner of Income Tax and ors. ...... Respondents CORAM : HON'BLE MR. JUSTICE AJAY KUMAR MITTAL HON'BLE MRS. JUSTICE MANJARI NEHRU KAUL Present : Mr. Sanjay Bansal, Sr. Advocate with Mr. Amit Parsad, Advocate for petitioner. Mr. Yogesh Putney, Sr. Standing Counsel for respondent. **** Ajay Kumar Mittal, J. instant writ petition has been filed under Articles 226/227 of Constitution of India for issuance of writ in nature of Certiorari/ Mandamus for quashing notice dated 16.02.2017 (Annexure P-5) issued under Section 226(3) of Income Tax Act, 1961 by respondent No.2. 2. primary dispute in writ petition was regarding whether petitioner or respondent-bank/department would have precedence to recover outstanding liabilities from M/s R.P.Basmati Rice Ltd. 3. It was stated by learned counsel for parties that application under Section 9 of Insolvency and Bankruptcy Code, 2016 (for brevity 'the Code') filed by respondents has been admitted by National Company Law Tribunal, Chandigarh Bench, Chandigarh (in short 'NCLT') and Moratorium under Section 14(1) of Code has been declared. relevant portion of order is reproduced as below: 1 of 2 ::: Downloaded on - 08-03-2019 11:19:17 ::: CWP No.4170 of 2018 -2- In view of above, we declare Moratorium in terms of sub section (1) of Section 14 of Code as under: (a) institution of suits or continuation of pending suits or proceedings against corporate debtor including execution of any judgment, decree or order in any Court of law, tribunal, arbitration panel or other authority; (b) transferring, encumbering, alienating or disposing of by corporate debtor any of its assets or any legal right or beneficial interest therein; (c) any action to foreclose, recover or enforce any security interest created by corporate debtor in respect of its property including any action under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; (d) recovery of any property by owner or lessor where such property is occupied by or in possession of corporate debtor. 4. Learned counsel for parties are ad idem that in view of Moratorium issued by NCLT, present petition has become infructuous and may be disposed of as such. 5. Ordered accordingly. (AJAY KUMAR MITTAL) JUDGE 25.02.2019 (MANJARI NEHRU KAUL) sonia JUDGE Whether speaking/reasoned: Yes/No Whether reportable : Yes/No 2 of 2 ::: Downloaded on - 08-03-2019 11:19:18 ::: State Bank of India v. Principal Commissioner of Income-tax and or
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