Section 14 of IBC does not create a bar for finalisation of Tax assessment & adjudication proceedings

Platino Classic Motors India Pvt. Ltd. Vs Deputy Commissioner Of Central Tax And Central Excise (Kerala High Court) Introduction: Platino Classic Motors, a BMW car dealer in Kerala, faces a setback as the Kerala High Court rules on the application of Section 14 of the Insolvency and Bankruptcy Code (IBC). The court’s decision, outlined in Exhibits P-7 to P-10 orders, challenges the initiation of corporate insolvency resolution and sheds light on the assessment and adjudication proceedings. Detailed Analysis: 1. Background and Insolvency Proceedings: The Federal Bank of India initiated th...