Central Excise Claims Not Secured Debt: NCLAT Delhi

Assistant Commissioner CGST & Central Excise Vs Pradeep Kabra (NCLAT Delhi) In the case of Assistant Commissioner CGST & Central Excise Vs Pradeep Kabra, the NCLAT Delhi dealt with a challenge by the Assistant Commissioner, CGST and Central Excise, Kadi Division, against the approval of the Resolution Plan for the corporate debtor, M/s. Cengres Tiles Limited. The appellant argued that its claim of Rs. 11.76 crore, arising under the Central Excise Act, should have been treated as a secured debt, entitled to higher payment in the Resolution Plan, similar to other secured creditors. Howev...