Provisions of IBC overrides provisions of State enacted law: NCLT Hyderabad

Punjab National Bank Vs NCS Sugars Ltd (NCLT Hyderabad)

NCLT Hyderabad held that the provisions of the Insolvency & Bankruptcy Code, 2016 (IBC) override the provisions of the State enacted law, such as, Andhra Pradesh Revenue Recovery Act, 1864.

Facts- The Corporate Debtor is engaged in the business of cane crushing and production of sugar and associated by-products. Corporate Debtor purchases sugarcane from farmers. Corporate Debtor committed default in paying the pri

Please become a Premium member. If you are already a Premium member, login here to access the full content.