Sundaresh Bhatt, Liquidator Of Abg Shipyard vs Central Board Of Indirect Taxes And Customs

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2022 Supreme(SC) 855

N. V. RAMANA, J. K. MAHESHWARI, HIMA KOHLI
Sundaresh Bhatt, Liquidator Of Abg Shipyard – Appellant
Versus
Central Board Of Indirect Taxes And Customs – Respondent

Advocates appeared:
For the Appellant(s) : Dr. Abhishek Manu Singhvi, Sr.Adv.
In C.A.No.7731/21 : Mr. Sameer Pandit, Adv. Mr. Aman Raj Gandhi, AOR Mr. Parthasarathy Bose, Adv. Mr. Anuj Jain, Adv. Mr. Aditya Ladha, Adv. Mr. Ananya Pratap Singh, Adv. Mr. Azeem Samuel, Adv. Mr. Nidhiram, Adv.
In C.A.No.7722/21 : Mr. Gaurav Mitra, Sr.Adv. Mr. Akash Kakade, Adv. Mr. Gurdeep Singh Sachar, Adv. Mr. Vikrant Shetty, Adv. Mr. Shriya Ray Chaudhary, Adv. Mr. Swetab Kumar, Adv. Mr. Somanatha Padhan, AOR Mr. Arvind Datar, Sr.Adv. Mr. J.Salva, Sr.Adv. Mr. Abhishek Sharma, Adv. Ms. Ashly Cherian, Adv. Mr. Gaurav Arora, Adv. Mr. Kamlendra Singh, Adv. Ms. Renuka, Adv.
For Liquidator : Mr. Jay Savla, Sr.Adv. Mr. Abhishek Sharma, Adv. Ms. Ashly Cherian, Adv. Mr. Kamlendra Singh, Adv. Mr. Gaurav Arora, Adv. Ms. Renuka Sahu, Adv. Mr. Alok Tripathi, AOR
For Respondent(s): Mr. Tushar Mehta, SG Mr. K.M. Nataraj, ASG Mr. Rupesh Kumar, Adv. Mr. Kannu Agarwal, Adv. Mr. Mayank Pandey, Adv. Mr. Mukesh Kumar Maroria, AOR
For Intervenor : Mr. Mukul Rohatgi, Sr.Adv.
In I.A.No.166862/21 : 1 Mr. Siddhartha Dave, Sr.Adv.
In C.A.7722/21 : Mr. Shiv Mangal Sharma, Adv. Mr. Saurabh Rajpal, Adv. Ms. Shrinjan Khosla, Adv. For M/S. Aura & Co., AOR
For R-1 in C.A.No.: Mr. Vikram Nankani, Sr.Adv.
7722/2021 and for R-3 in C.A.No. 7731/2021 : Mr. Jasdeep Singh Dhillon, Adv. Mr. Salil Thakore, Adv. Mr. Prabhay Chaurasia, Adv Mr. Rahul Gupta, Adv. Ms. R. Nair, Adv.
For R.No.8 in C.A.No.7731/21 & for intervenor In C.A.7667/21 : Mr. Gaurav Mathur, Adv. Ms. Anushree Prashit Kapadia, AOR Mr. Abhishek Shah, Adv. Ms. Priyanka Rathi, Adv. Mr. Shashank Khurana, Adv. Mr. Somanatha Padhan, AOR Mr. Alok Tripathi, AOR M/S. Cyril Amarchand Mangaldas Aor, AOR Mr. Aman Raj Gandhi, AOR

JUDGMENT :

The present Civil Appeal under Section 62(1) of the Insolvency and Bankruptcy Code, 2016 (“IBC”) arises out of the impugned judgment dated 22.11.2021 passed by the National Company Law Appellate Tribunal, New Delhi (“NCLAT”) in Company Appeal (AT) (Insolvency) No. 236 of 2021. Vide the impugned judgment, the NCLAT has allowed the appeal filed by the respondent against the order of the National Company Law Tribunal, Ahmedabad (“NCLT”)/Adjudicating Authority whereby the Adjudicating Authority directed the release of certain goods lying in the Customs Bonded Warehouses without payment of custom duty and other levies.

2. A conspectus of the facts necessary for the disposal of the present appeal is as follows: ABG Shipyard (“Corporate Debtor”) was in the business of shipbuilding prior to the initiation of corporate insolvency proceedings against it. As a part of its business enterprise, it used to regularly import various materials for the purpose of constructing ships which were to be exported on completion. Some of these goods were stored by the Corporate Debtor in Custom

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2022 Supreme(SC) 855

N. V. RAMANA, J. K. MAHESHWARI, HIMA KOHLISundaresh Bhatt, Liquidator Of Abg Shipyard – AppellantVersusCentral Board Of Indirect Taxes And Customs – Respondent

N. V. RAMANA, J. K. MAHESHWARI, HIMA KOHLI
Sundaresh Bhatt, Liquidator Of Abg Shipyard – Appellant
Versus
Central Board Of Indirect Taxes And Customs – Respondent