IBC prevails over Customs Act once moratorium is executed: Supreme Court

The Bench said that the Insolvency and Bankruptcy Code would prevail over the Customs Act and customs authorities would have only limited jurisdiction to assess levies once a moratorium is in place.
Supreme Court and IBC
Supreme Court and IBC

The Supreme Court on Friday held that provisions of the Insolvency and Bankruptcy Code (IBC) would prevail over the Customs Act once a moratorium is executed [Sundaresh Bhatt vs CBITC].

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