State Tax Department is secured creditor u/s. 53 of IBC

State Tax Officer Vs Premraj Ramratan Laddha & Ors (NCLAT Delhi) NCLAT Delhi held that State Tax Department is secured creditor under section 53 of the Insolvency and Bankruptcy Code [IBC] hence resolution plan approved without considering the same is in violation of statutory provision. Facts- M/s Harsh Foundry Fluxes & Alloys filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Twenty First Century Castings Pvt. Ltd. (Corporate Debtor) which was admitted on 16.01.2020. The present appeal has been filed by the State Tax Officer, Gujarat because agai...