Sundaresh Bhatt vs Central Board Of Indirect Taxes And ...

The Supreme Court addressed the appeal concerning the release of goods from Customs Bonded Warehouses without payment of customs duties under the Insolvency and Bankruptcy Code, 2016. The court examined the implications of the NCLAT's decision which overturned the NCLT's order allowing the release of goods. Ultimately, the Supreme Court upheld the NCLAT's ruling, emphasizing the necessity of adhering to customs regulations in the context of insolvency proceedings.