Eye Share: Ultra Tech Case Ruling - Clearing the Air Around Treatment of Indirect Tax Dues Under IBC

Dr. Soumya Kanti Ghosh, Group Chief Economic Adviser, SBI had stated, ‘The enactment of Insolvency and Bankruptcy Code (IBC) Amendment Act 2019 in India is a culmination of 60 years and is perhaps one of the best reforms in the financial market’. However, one of the most disputed areas under IBC relates to treatment of pending litigations of the Corporate Debtor vis-a-vis the Tax Departments.In this article, S Rahul Jain (Joint Partner, Lakshmikumaran & Sridharan...