At, Supreme Court of India
By, THE HONOURABLE MR. JUSTICE ROHINTON FALI NARIMAN & THE HONOURABLE MS. JUSTICE INDU MALHOTRA
For the Petitioner: A.N.S. Nadkarni, ASG, K.S. Radhakrishnan, Sr. Advocate. For the Respondent: S.A. Haseeb, Arijit Prasad, Anil Katiyar, AOR, Mukul Rohatgi, Sr. Advocate, Shyam Divan, Sr. Advocate, Mahesh Agarwal, Ankur Saigal, Himanshu Satija, Advocates, E.C. Agrawala, AOR.
2. Delay, if any, is condoned.
3. Given Section 238 of the Insolvency and Bankruptcy Code, 2016, it is obvious that the Code will override anything inconsistent contained in any other enactment, including the Income-Tax Act.
4. We may also refer in this Connection to Dena Bank v. Bhikhabhai Prabhudas Parekh and Co. & Ors. (2000) 5 SCC 694 and its progeny, making it clear that income-tax dues, being in the nature of Crown debts, do not take precedence even over secured creditors, who are private persons.
5. We are of the view that the High Court of Delhi, is, therefore, correct in law.
6. Accordingly, the Special Leave Petitions
Please Login To View The Full Judgment!
are dismissed. 7. Pending applications, if any, stand disposed of.