J U D G M E N T

(Hybrid Mode)

[Per: Arun Baroka, Member (Technical)]

1.This is an Appeal under section 61 of the IBC 2016, Challenging the Order / Judgment dated 30.07.2024 passed by the National Company Law Tribunal, Ahmedabad Bench in Interlocutory Application No.742 (AHM) 2022 in CP (IB) No.473 of 2018, whereby the learned National Company Law Tribunal, Ahmedabad Bench, has allowed the application of the secured financial creditor of the CD-Gangotri Glazed Private Limited (Respondent No.2) and has directed the appellant to release the charge created by the appellant on the land situated at Morbi District (erstwhile Rajkot District), Sub- District –Morbi, Village- Dhuva, Revenue Survey No.130 paiki, land admeasuring 14678.80 sq. Mtrs, industrial purpose land (NA) along with construction thereon.

Submissions of the Appellant

2. The recovery of tax from the Corporate Debtor (CD) is due under the GVAT and CST Act for the Assessment Years 2010-11, 2011-12, 2012-13, which is prior to the initiation of the CIRP proceedings. Notices were being issued by the appellant for the assessment period of 01.04.2010 to 31.03.2011, 01.04.2011 to 31.03.2012 under Section 9(2) of the Central Sales Tax Ac