NCLAT Partly Allows Gujarat Tax Officer's Secured Creditor Claim

NCLAT partially allowed an appeal by Gujarat State Tax Officer seeking secured creditor status for VAT dues under Section 48 of GVAT Act during liquidation.
Tribunal ruled VAT dues qualify as secured debt requiring redistribution, while CST dues remain operational debt under Section 53(1)(e) of IBC.
Directed liquidator to recall funds from Bank of Baroda to satisfy secured portion of tax claim, while upholding corporate debtor's dissolution.