Absence Of Charge Defeats Income Tax Department's Secured Creditor Status: NCLAT New Delhi

The NCLAT, New Delhi, has ruled that the "absence of a charge defeats the Income Tax Department's secured creditor status." This is a significant ruling that provides clarity on the legal standing of claims made by the EPFO during the corporate insolvency resolution process. The court's decision, which is a significant victory for the government, was made on the grounds that the company's claim was not supported by evidence.